Hong Kong stocks end up 0.19%

19:39, March 19, 2010      

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Hong Kong stocks rose Friday tracking gains on Wall Street, with the benchmark index up 0.19 percent or 40.15 points to close at 21,370.82.

The Hang Seng Index opened 0.14 percent higher at 21,359.55 on Friday. It traded between 21,257.80 and 21,389.00 during the day's session. Turnover shrank to 58.73 billion HK dollars (7.58 billion U.S. dollars) from Thursday's 61.75 billion HK dollars (7.96 billion HK dollars).

Analysts said the local market will continue rising next week due to the likelihood of strong 2009 earnings results and companies' upbeat expectations for 2010.

Four sub-indices all gained ground. The utilities sub-index rose most at 1.17 percent, followed by the properties at 0.35 percent, the commerce and industry at 0.18 percent and the finance at 0.05 percent.

Market heavyweight HSBC fell 0.50 HK dollars, or 0.61 percent, to close at 80.95 HK dollars and its local unit Hang Seng Bank closed down 0.55 percent. China Mobile edged up 0.20 percent to 76. 55 HK dollars.

Leading Chinese mainland banks all ended higher. Bank of China went up 1.00 percent to 4.03 HK dollars. China Construction Bank increased 0.64 percent to 6.26 HK dollars and ICBC gained 0.17 percent to 5.91 HK dollars and Bank of Communications, 0.57 percent to 8.84 HK dollars.

Hong Kong property stocks rose. Cheung Kong, the flagship of Hong Kong's richest man Li Ka-shing, moved up 1.10 HK dollars, or 1.12 percent, at 99.75 HK dollars. Sun Hung Kai Properties, the leading residential housing developer in Hong Kong, slid 0.09 percent at 118.20 HK dollars.

As for oil shares, PetroChina up 1.32 percent, Sinopec rose 1. 59 percent, while offshore oil producer CNOOC down 1.09 percent.

The Hang Seng China Enterprises Index swelled 54.00 points, or 0.44 percent to close at 12,262.36. (7.753 HK dollars = 1 U.S. dollar)

Source: Xinhua
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