HK stocks close higher as heavyweights gain

08:28, July 01, 2011      

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A pedestrian walks past an electrical panel showing Hang Seng Index in Hong Kong, south China, June 30, 2011. Hong Kong stocks closed up 336.92 points, or 1.53 percent, at 22,398.1 on Thursday. (Xinhua/Wong Pun Keung)

Hong Kong stocks jumped in the last trading day of June, as heavyweights, like HSBC and CCB, gained on Thursday.

The benchmark Hang Seng Index moved up 336.92 points to close at 22,398.1 points, after trading between a day high of 22,464.05 points and a day low of 22,174.61 points.

Turnover expanded to 73.98 billion HK dollars (9.51 billion US dollars) from Wednesday's 61.9 billion HK dollars.

The H-Share Index moved up 172.16 points, or 1.39 percent, to end at 12,576.68 points.

Banking giant HSBC edged up 1.45 percent to close at 77.05 HK dollars. China Mobile, China's dominant mobile carrier, ended up 0. 63 percent at 72 HK dollars.

Mainland lenders listed in Hong Kong surged. ICBC, China's largest bank by market value, edged up 1.55 percent to close at 5. 91 HK dollars; CCB, the country's second largest lender by market capitalization, increased 1.9 percent to close at 6.45 HK dollars; BOC, one of the "big four", ended up 0.8 percent at 3.79 HK dollars.

Major local developers performed well. Sun Hung Kai, HK's largest property developer by market value, moved up 2.26 percent to close at 113.3 HK dollars; Cheung Kong properties, owned by billionaire Li Ka-shing, edged up 3.83 percent to 113.8 HK dollars.

PetroChina, the country's largest oil and gas producer closed up 1.25 percent to 11.38 HK dollars. Sinopec, China's top refiner, moved up 0.9 percent to 7.83 HK dollars.

China Life, one of the world's largest life insurers by market value, ended up 2.11 percent at 26.6 HK dollars. (One U.S. dollar is equivalent to 7.78 HK dollars)

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