Hong Kong shares close 0.95 pct higher

12:11, May 28, 2011      

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Hong Kong stocks rose for a fourth consecutive session to stand back above the 23,000 level on Friday, with the weighted index ending up 217.28 points or 0.95 percent at 23,118.07.

The benchmark Hang Seng Index opened up 39.16 points, or 0.17 percent at the day's low of 22,939.95, and reached as high as 23,150.60 during the day's session. Turnover rose to 64.18 billion HK dollars.

The Hang Seng China Enterprises Index moved up 208.74 points, or 1.64 percent, to close at 12,960.82.

Four sub-indices ended up. The Finance sub-index added 300.08 points, the Commerce and Industry rose 123.63 points, the Utilities up 315.50 points, the Properties, 368.74 points.

Heavyweight HSBC moved up 0.62 percent to 80.65 HK dollars. China Mobile went up 0.36 percent to 70.05 HK dollars.

Oil shares were strong. PetroChina jumped 3.8 percent to 10.94 HK dollars. CNOOC went up 2.03 percent to 19.06 HK dollars. Sinopec gained 1.87 percent to 7.64 HK dollars.

Lenders from the Chinese mainland all closed higher. Bank of China was up 0.71 percent at 4.23 HK dollars. China Construction Bank was 0.84 percent higher at 7.21 HK dollars. ICBC rose 1.77 percent to 6.34 HK dollars. Bank of Communications up 1.28 percent to 7.93 HK dollars.

Local developer Cheung Kong Holding, controlled by billionaire Li Ka-shing, increased 1.7 percent to 119.4 HK dollars.

Lenovo swelled 5.31 percent to 4.56 HK dollars on stronger-than- expected fiscal results for the first three months this year. China Unicom put on 2.82 percent to 16.8 HK dollars. Swiss commodities trader Glencore closed up 0.45 percent at 67.05 HK dollars.

Exporter Li & Fung gave up 2.64 percent to 16.2 HK dollars. (1 U.S. dollar equals 7.783 HK dollars.)

Source: Xinhua
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