Hong Kong shares close 0.29% higher

08:14, May 31, 2011      

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A pedestrian walks past a panel displaying Hang Seng Index in Hong Kong, south China, May 30, 2011. Hong Kong stocks went up 66.25 points, or 0.29 percent, to close at 23,184.32 on Monday, posting steady trend after last Friday's rebound.(Xinhua/Lui Siu Wai)

Hong Kong stocks went up 66.25 points, or 0.29 percent, to close at 23,184.32 on Monday, posting steady trend after last Friday's rebound.

The benchmark Hang Seng Index opened flat, down 0.27 points at 23,117.80, then traded between 23,086.05 and 23,257.85 during the day's session. Turnover totaled 50.40 billion HK dollars (about 6. 48 billion U.S. dollars).

The Hang Seng China Enterprises Index went up 43.39 points, or 0.34 percent, to close at 13,004.31.

Three of the four sub-indices gained ground. The Commerce and Industry index moved up 0.48 percent, followed by the Finance, up 0.29 percent, and the Utilities rose 0.07 percent. The Properties lose 0.37 points to end at 28,595.41.

Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, closed unchanged to end at 80.65 HK dollars, and its local unit Hang Seng Bank lose 0.32 percent to 123.6 HK dollars.

Bank of East Asia, another Hong Kong's major bank, ended 0.61 percent higher at 33.15 HK dollars. Local bourse operator Hong Kong Exchanges and Clearing added 0.18 percent to 170.1 HK dollars.

Mainland-based lenders gained ground generally. ICBC, the world 's largest bank by market value, finished up 0.63 percent at 6.38 HK dollars. China Construction Bank gained 0.14 percent at 7.22 HK dollars, and Bank of China up 0.47 percent at 4.25 HK dollars. However, Bank of Communications surged 0.25 percent to 7.91 HK dollars.

Local Property stocks finished mixed. Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, moved down 0.75 percent to 118.5 HK dollars. Henderson Land lost 1. 33 percent to 51.85 HK dollars, While Sun Hung Kai Properties added 0.17 percent to 119 HK dollars and Hang Lung Properties up 0. 16 percent to 31.75 HK dollars.

Oils shares put in smooth shows, the country's largest oil and gas producer PetroChina moved up 0.18 percent to 10.96 HK dollars. CNOOC, the HK-listed unit of China's National Offshore Oil Corporation, gained 0.32 percent to 19.12 HK dollars. However, China's top refiner Sinopec lost 0.52 percent, to close at 7.6 HK dollars.

Among other blue chips, Trading firm Li and Fung was the best- performing blue chip in the day, which plunged 4.07 percent to 16. 86 HK dollars. (1 U.S. dollar equals 7.778 HK dollars).

Source: Xinhua

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