Hong Kong stocks end 1.17% higher

09:28, October 05, 2010      

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Hong Kong stocks closed sharply higher on Monday, with the weighted index gaining 260.49 points, or 1.17 percent, to end at 22,618.66, the highest closing so far this year.

The benchmark Hang Seng Index opened up at 22,542.36 and traded between 22,542.36 and 22,734.88 during the day's session. Turnover totaled 96.03 billion HK dollars, compared with Thursday's 85.95 billion HK dollars as the market was closed for National Day on Friday.

The Hang Seng China Enterprises Index went up 208.08, or 1.68 percent, to close at 12,614.18 HK dollars.

All four but one sub-indices gained ground. The Commerce and Industry sub-index rose 2.04 percent, the finance added 0.74 percent, the properties, 0.59 percent, while the utilities sub- index lost 0.51 percent.

More than half of the blue chips rose. Heavyweight HSBC went up 0.62 percent to 80.20 HK dollars, and China Mobile edged up 1.07 percent to 80.30 HK dollars.

Oil companies closed much higher as crude prices broke 80 U.S. dollars. PetroChina jumped 5.54 percent at 9.53 HK dollars, offshore oil producer CNOOC climbed 4.92 percent at 15.78 HK dollars. Sinopec ended up 1.16 percent at 6.96 HK dollars.

Chinese mainland lenders closed mixed. Bank of China increased 1.23 percent to 4.12 HK dollars. ICBC inched up 0.17 percent to 5. 79 HK dollars. China Construction Bank dipped 0.29 percent to 6.78 HK dollars. Bank of Communications down 0.12 percent to 8.38 HK dollars.

As for local developers, Cheung Kong, a flagship of Hong Kong led by billionaire Li Ka-shing, was 1.11 percent higher at 118.90 HK dollars. Henderson moved up 1.36 percent to 56.00 HK dollars. SHK rose 1.27 percent to 135.70 HK dollars. However, Hang Lung lost 1.72 percent to 37.25 HK dollars. (7.759 HK dollars =1 U.S. dollar)

Source: Xinhua


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