Shares in Hong Kong and mainland China rallied Friday after China unveiled its most far-ranging measures to support the country's troubled property sector, sending real estate firms soaring.

The Hang Seng Index advanced 0.91 percent, or 177.08 points, to 19,553.61.

The Shanghai Composite Index climbed 1.01 percent, or 31.63 points, to 3,154.03, while the Shenzhen Composite Index on China's second exchange jumped 1.18 percent, or 20.88 points, to 1,785.59.