HK stocks rally 1.02% after tumbling 2.1% Monday

18:48, April 20, 2010      

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Hong Kong stocks rebounded to close higher on Tuesday after slumping 2.1 percent on Monday following reports of Goldman Sachs' fraud charge by the U.S. securities regulators.

The benchmark Hang Seng index closed up 218.21 points, or 1.02 percent, at 21,623.38 on Tuesday. Turnover totaled 62.72 billion HK dollars (8.09 billion U.S. dollars), down from Monday's 76.52 billion HK dollars.

The H-share index add to 12,436.56 points, up 1.49 percent or 182.78 points.

Heavyweight China Mobile, the world's largest mobile operator by subscribers, gained three percent or 2.55 HK dollars to close at 80.2 HK dollars per share.

HSBC, one of the world's biggest banks, advanced 1 percent to 82.65 HK dollars per share. Shares of ICBC, the world's largest bank by market value, edged up 1.2 percent to close at 5.98 HK dollars.

Minsheng Bank rose 2.6 percent to 8.04 HK dollars after posting a 53-pct jump of its 2009 net profit, which stood at 12.1 billion Chinese yuan (1.77 billion U.S. dollars).

Other major mainland lenders also advanced. Bank of China gained nearly one percent to close at 4.11 HK dollars, while shares of Construction Bank of China rose 1.9 percent to 6.56 HK dollars.

Brilliance China Auto jumped 15 percent to 2.61 HK dollars thanks to market expectations about its strong first-quarter earnings.

On Monday, the blue-chip Hang Seng index tumbled 460 points to close at 21,405.

Source: Xinhua


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