Hong Kong stocks gained 23.75 points, or 0.1 percent, to close Friday's morning session at 23,187.13.
China's top banking regulator on Friday warned the country's banking system to prepare for the adverse impact of massive cross-border capital flows.
The chief executive of Hong Kong Special Administrative Region Donald Tsang said here on Thursday that the Hong Kong government is working with the Mandatory Provident Fund (MPF) Authority to review and enhance the MPF system.
China's high saving rate may lead to high investment, which could in turn trigger overheating and overcapacity in some fields, or even asset bubbles, said Zhou Xiaochuan, governor of the People's Bank of China.
Stocks of Chinese mainland fell for the first time in three days, led by property developers and power producers, on concern the central bank will boost borrowing costs and higher energy costs will hurt corporate earnings.
ChiNext Index opened 0.83 points lower at 884.06 Friday.
Hong Kong stocks went up 52.24 points, or 0.23 percent, to open at 23,215.62 on Friday.
The gold price in Hong Kong went down eight HK dollars to open at HK$13,860 per tael on Friday, according to the Chinese Gold and Silver Exchange Society.
China's demand for gold continues to grow, led by the country's taste for gold jewelry. It also has been the largest physical bar and coin investment market.
The Chinese currency Renminbi, or the yuan, strengthened against the US Dollar (USD) for the third consecutive trading day on Friday.
Chinese shares opened mixed on Friday, with the benchmark Shanghai Composite Index down 0.04 percent to open at 2,858.31.
China's yuan settlement in cross-border trade topped 530 billion yuan ($81.54 billion) in the first four months of 2011, said an official with the central bank on Thursday.