Hong Kong stocks close up 0.10%

11:08, March 17, 2011      

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Hong Kong stocks rose on Wednesday with the weighted index ending up 22.63 points, or 0.10 percent, to close at 22,700.88 as investors hunted bargains after Tuesday's plunge.

The benchmark Hang Seng Index opened up 136.25 points at the day's high of 22,814.50 and once reached as low as 22,541.55 in the day's session. Turnover fell to 84.18 billion HK dollars from Tuesday's 109.26 billion HK dollars.

The Hang Seng China Enterprises Index added 90.81 points, or 0. 72 percent, to close at 12,642.77.

Four sub-indices closed mixed. The Properties sub-index rose 1 percent, the Utilities gained 0.50 percent while the Commerce and Industry was down 0.01 percent, Finance shed 0.04 percent.

Heavyweight HSBC edged up 0.30 percent to 80.35 HK dollars. China Mobile slid 1.66 percent to 71.05 HK dollars. The carrier announced 2010 earnings of RMB 119.64 billion, representing growth of 3.9 percent.

Chinese lenders were higher. ICBC went up 1.50 percent to 6.10 HK dollars. China Construction Bank up 0.29 percent to 6.99 HK dollars, Bank of Communication grew 1.15 percent to 7.89 HK dollars. Bank of China was flat at 4.08 HK dollars.

Among Hong Kong developers, Cheung Kong Holding, a conglomerate created by Li Ka-shing up 0.60 percent to 119.50 HK dollars. New World Development closed down 0.74 percent to 13.38 HK dollars. Sun Hung Kai Properties ended up 1.52 percent at 120.40 HK dollars.P PetroChina moved up 0.96 percent to 10.54 HK dollars, offshore oil producer CNOOC increased 0.23 percent to 17.30 HK dollars. Sinopec up 0.13 percent to 7.77 HK dollars. (1 U.S. dollar equals 7.795 HK dollars).

Source: Xinhua
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