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Actionable news in SINA: Sina Corporation,

Why SINA Stock Closed Higher on Friday

NEW YORK (TheStreet) -- Shares of SINA Corp. (SINA - Get Report) finished the day having gained by 5.75% to $42.64 on Friday, as some U.S. traded China-based stocks got a boost from the rally in China's market.

SINA is an online media company that services China and the global Chinese communities, and is based in Shanghai.

Trading in Hong Kong resumed on Friday, the market was closed for a holiday yesterday, and spiked from the largest quarterly loss in four years as China's government stepped in to support the economy, Bloomberg reports.

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Financial markets in mainland China will remained closed for the holiday week until October 8.

The Hang Seng China Enterprises Index jumped by 3% to 9,686.64 at the close, its biggest gain in three weeks.

Policy makers in China are upping target stimulus after five interest rate reductions since November haven't turned the country's struggling economy around, Bloomberg added.

"China is likely to roll out new policies in the fourth quarter,"...