HK stocks end 1.1% up

21:30, July 21, 2010      

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Hong Kong stocks extended Tuesday's rally to end 1.1 percent higher on Wednesday, tracking gains on peripheral markets.

The benchmark Hang Seng Index rose 222.64 points to close at 20, 487.23. Turnover totaled 55.13 billion HK dollars (7.1 billion U.S. dollars), compared with Tuesday's 51.81 billion HK dollars (6.66 billion U.S. dollars).

The Hang Seng China Enterprises Index up 182.69 points, or 1.59 percent, to close at 11,689.91 points.

Three of four sub-indices went up. The finance sub-index gained most, moving up 1.32 percent, followed by the commerce and industry, 1.26 percent, the properties, 0.2 percent. The utilities fell 0.1 percent.

Heavyweight HSBC surged 2.16 percent to 75.80 HK dollars. China mobile added 1.16 percent to 78.20 HK dollars. Hang Seng Bank edged down 0.19 percent to 104.80 HK dollars.

New World Development jumped 3.51 percent to 13.58 HK dollars after Morgan Stanley's initiation. Cheung Kong Holding's edged up 0.05 percent to 91.35. SHK Properties dipped 0.53 percent to 111. 60.

Steel companies soared following the news that there will be measures to cut down steelmakers in China. Angang Steel rocketed 7. 9 percent to 11.7 HK dollars. Magnang up 7.5 percent to 3.86 HK dollars.

PetroChina gained 1.87 percent to 8.70 HK dollars, offshore oil producer CNOOC rose 2.39 percent to 12.84 HK dollars. Sinopec up 1. 82 percent at 6.17 HK dollars.

Bank of China moved up 1.23 percent to 4.10 HK dollars. China Construction Bank up 1.25 percent to 6.47 HK dollars. Bank of communications rose 1.9 percent at 8.57 HK dollars. ICBC ended up 0.87 percent to 5.79 HK dollars. (1 U.S. dollar=7.77 HK dollars)

Source: Xinhua


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