Hong Kong stocks finish 1.73% higher

08:10, November 10, 2009      

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Wall Street ended up slightly and capital inflow towards the region sent Hong Kong stocks finished higher Friday, with mainland banks leading the gain.

The benchmark Hang Seng index gained 377.83 points, or 1.73 percent, to close at 22,207.55. The stocks opened 0.80 percent higher to open at 22,004.51, hitting the day-high at 22,214.85 during the session.

Turnover rose slightly to 65.09 billion HK dollars (8.42 billion U.S. dollars) from Friday's 64.43 billion HK dollars (8.26billion U.S. dollars).

China Enterprises Index went up 301.28 points, or 2.31 percent, to close at 13,318.48 points.

All four major stock categories rose, with the finance sub-index became the biggest gainer, went 2.44 percent up. The property sub-index moved up 1.01 percent, the commerce and industry, 1.02 percent, and the utilities, 0.7 percent.

Blue-chips ended up in general. Banking giant HSBC Holdings alone contributed 73 points to the index, rising 2.36 percent to close at 88.9 HK dollars.

Heavyweight China Mobile, by far the largest mobile carrier in the mainland, edged down 0.74 percent to 73.35 HK dollars. HKEx, the sole exchange operator in Hong Kong, gained 0.93 percent, to 141.3 HK dollars.

As for local properties, Cheung Kong, the flagship of Hong Kong's richest man Li Ka-shing, rose 0.77 percent to 98.1 HK dollars. Henderson Land dropped 0.44 percent to 56.05 HK dollars. SHK Properties rose 1.55 percent to 118.1 HK dollars.

Mainland-based commercial lenders surged. Bank of China, rose 2. 61 percent at 4.72 HK dollars. ICBC surged 3.1 percent to 6.66 HK dollars. CCB rose 3.1 percent to 6.98 HK dollars.

Chinese insurance companies also went up. China Life rose 2.54 percent to 38.4 HK dollars. Ping An edged up 0.42 percent to 71.45HK dollars.

As for energy shares, PetroChina gained 2.03 percent to 10.04 HK dollars, off-shore oil producer CNOOC rose 1.31 percent to 12. 42 HK dollars, while Sinopec Corp ended flat at 6.82 HK dollars.(7. 8 HK dollars = 1 U.S. dollar)

Source: Xinhua
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