HK stocks rebound as heavyweights gain

20:16, November 18, 2010      

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A pedestrian walks past an electronic panel displaying the Hang Seng Index in Hong Kong, south China, Nov. 18, 2010. Hong Kong stocks rose 422.93 points to finish at 23,637.39 points Thursday. (Xinhua/Lui Siu Wai)

Hong Kong stocks spiked on Thursday after a nearly 6 percent drop of the benchmark index in the past four trading days, as heavyweights and mainland lenders rebounded powerfully.

The benchmark Hang Seng Index moved up 422.93 points, or 1.82 percent, to close at 23,637.39 points, after trading between a day high of 23,671.51 points and a day low of 23,327.29 points.

Turnover totaled 92.36 billion HK dollars (11.9 billion US dollars), compared with Wednesday's 103.05 billion HK dollars.

The H-Share Index moved up 292.15 points, or 2.27 percent, to end at 13,168.49 points.

Banking giant HSBC edged up 1.48 percent to close at 82.5 HK dollars. China Mobile, China's dominant mobile carrier, moved down 0.06 percent, to end at 77.85 HK dollars.

Mainland lenders listed in Hong Kong moved up. ICBC, China's largest bank by market value, jumped 2.59 percent to close at 6.33 HK dollars; CCB, the country's second largest lender by market capitalization, edged up 2.67 percent to close at 7.3 HK dollars; BOC, one of the "big four", increased 1.63 percent to 4.37 HK dollars.

Sun Hung Kai, Hong Kong's largest property developer by market value, moved down 0.37 percent to close at 135.5 HK dollars; Cheung Kong properties, owned by billionaire Li Ka-shing, edged up 1.64 percent to 123.8 HK dollars.

China Life, one of the world's largest life insurers by market value, increased 1.63 percent to end at 34.3 HK dollars.

PetroChina, the country's largest oil and gas producer moved up 0.52 percent to 9.58 HK dollars; Sinopec, China's top refiner, increased 0.84 percent to 7.23 HK dollars. (One US dollar is equivalent to 7.76 HK dollars)

Source: Xinhua


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