Hong Kong stocks surge 2.22%

20:23, February 03, 2010      

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Hong Kong stocks surged 449.9 points, or 2.22 percent, to close at 20,722.08 Wednesday, tracking the Mainland market.

The benchmark Hang Seng Index opened 1.06 percent higher at 20, 486.15 Wednesday. It traded between 20,780.50 and 20,315.31 during the day's session.

Turnover totaled 68.64 billion HK dollars (8.84 billion U.S. dollars), compared with Tuesday's 62.44 billion HK dollars.

The Hang Seng China Enterprises Index rose 268.37 points, or 2.32 percent, to close at 11,838.72.

Three of the four sub-indices gained. The commerce and industry sub-index became the biggest gainer, rising 3.21 percent, followed by the finance, 1.85 percent, the properties, 1.6 percent. The utilities edged down 0.17 percent.

Market heavyweight HSBC rose 1.42 percent, to close at 85.75 HK dollars and its local unit Hang Seng Bank edged up 0.09 percent at 109.7 HK dollars. China Mobile rose 1.39 percent to 76.5 HK dollars.

Chinese mainland lenders mostly did well Wednesday. Bank of China surged 2.4 percent to 3.84 HK dollars. China Construction Bank gained 1. 67 percent to 6.1 HK dollars and ICBC surged 2.28 percent to 5.83 HK dollars. Bank of Communications rose 2.68 percent to 8.04 HK dollars.

As for local developers, Cheung Kong, the flagship of Hong Kong 's richest man Li Ka-shing, rose 0.32 percent, at 94.65 HK dollars. SHK Properties, the leading residential housing developer in Hong Kong, ended 1.86 percent higher at 104.2 HK dollars. Henderson Land added 1.18 to 51.5 HK dollars.

PetroChina gained 3.28 percent to 9.13 HK dollars, offshore oil producer CNOOC rocketed 9.41 percent to 12.32 HK dollars. Sinopec went up 0.65 percent to 6.23 HK dollars.

Li & Fung moved up 0.14 percent to 35.4 HK dollars. China Life gained 1.31 percent to 34.75 HK dollars.

Source: Xinhua
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