Hong Kong stocks end 0.63% higher, lifted by regional gains

19:14, February 10, 2010      

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Hong Kong stocks closed higher Wednesday as external markets gained ground, with the benchmark Hang Seng Index adding 131.94 points, or 0.67 percent, to close at 19,922.22.

The Hang Seng Index opened 0.63 percent higher, after the Wall Street ended higher overnight and the mainland market opened higher in the morning. Investors took their cues from a weaker U.S. dollar amid hopes that Germany will lead a bailout for Greece.

The Hang Seng Index trimmed gains after the market open and once dipped into negative ground. It moved between 19,976.66 and 19,681.54 during the session on a total turnover of 59.62 billion HK dollars (7.64 billion U.S. dollars), which was slightly less than Tuesday's 61.65 billion HK dollars (7.90 billion U.S. dollars) .

The China Enterprises gained 1.30 percent at 11,345.64.

Banking giant HSBC closed up 0.95 percent at 80.05 HK dollars while China Mobile, the leading carrier on the mainland, closed down 1.38 percent at 74.95 HK dollars.

The finance sub-index was up 0.84 percent, the properties up 0. 8 percent and the commerce and industry category up 0.52 percent. The utilities sub-index was down 0.24 percent.

The mainland-based banking giants were higher, with Bank of China up 1.36 percent at 3.74 HK dollars, China Construction Bank up 0.68 percent and ICBC 0.18 percent.

Shipping stock COSCO Pacific surged 0.62 HK dollars, or 5.86 percent, to close at 11.2 HK dollars, lifted by strong export data on the mainland. China COSCO, however, shed 0.21 percent at 9.38 HK dollars as analysts said the dry bulk shipping sector would remain under pressure.

The energy shares were also higher, with PetroChina up 0.71 percent, CNOOC up 2.88 percent, Sinopec up 0.34 percent, and coal producer Shenhua up 2.22 percent.

Cheung Kong, the business conglomerate headed by Li Ka-shing, the richest man in Hong Kong, ended down 0.27 percent. Sun Hung Kai Properties, the leading residential housing developer, gained 1.3 percent to close at 101.3 HK dollars. (7.8 HK dollars = 1 U.S. dollar)

Source: Xinhua
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