Hong Kong stocks end highest in three months

20:13, April 07, 2010      

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Hong Kong stocks closed up 391. 77 points, or 1.82 percent, at their highest level of 21,928.77 in nearly three months on Wednesday, lifted by resources stocks gaining on rising crude oil prices.

The benchmark Hang Seng Index opened 1.35 percent higher at 21, 828.35 and traded between 21,935.41 and 21,747.57 before closing after a three-session break in trading.

Turnover totaled 89.11 billion HK dollars compared with last Thursday's 69.32 billion HK dollars.

The Hang Seng China Enterprises Index surged 291.77 points, or 2.30 percent, to close at 12,987.82.

All four sub-indices went up. The finance sub-index gained most, raising 2.06 percent, followed by the commerce and industry, adding 1.75 percent, the properties, 1.63 percent and the utilities, 0.56 percent.

Heavyweight HSBC went up 0.76 percent to close at 79.95 HK dollars. Its local unit Hang Seng Bank up 0.64 percent at 109.60 HK dollars. China Mobile added 1.13 percent to 76.40 HK dollars.

Chinese mainland lenders all ended up. Bank of China surged 3. 09 percent to 4.34 HK dollars. China Construction Bank jumped 4.15 percent to 6.77 HK dollars. Bank of Communications rose 1.68 percent to 9.71 HK dollars. ICBC increased 3.80 percent to 6.28 HK dollars.

As for local developers, Cheung Kong, the flagship of Hong Kong 's richest man Li Ka-shing, rose 1.37 percent, to end at 103.90 HK dollars. SHK Properties, the leading residential housing developer in Hong Kong, ended 1.79 percent higher at 119.70 HK dollars. Henderson Land added 0.46 percent to 55.15 HK dollars.

PetroChina gained 1.73 percent to 9.40 HK dollars while offshore oil producer CNOOC performed the best, leaping 6.42 percent to 13.92 HK dollars. Sinopec moved down slightly by 0.15 percent to 6.56 HK dollars. (7.755 HK dollars = 1 U.S. dollar)

Source: Xinhua


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