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People's Daily Online>>China Business

Hong Kong shares close 1.43% higher, tracking regional gains

(Xinhua)

19:29, December 16, 2011

HONG KONG, Dec. 16 (Xinhua) -- Hong Kong stocks gained 258.55 points or 1.43 percent, to close at 18,285.39 on Friday, tracking afternoon's rally in the Chinese mainland markets and recoveries in other regional index.

The benchmark Hang Seng Index traded between a day low of 18,025.60 and a day high of 18,390.41. Turnover totaled 54.34 billion HK dollars (6.98 billion U.S. dollars), compared with Thursday's 58.67 billion HK dollars.

Property and financial heavyweights led the charge, which marked an end to the losses in the last six consecutive trading days. The property sub-index, which covers seven blue chips of the Hang Seng Index, jumped 2.34 percent, or 514.39 points, to end at 22,521.41. The finance sub-index, which covers 11 blue chips, added 417.28 points, or 1.71 percent, to 24,853.90.

All the seven property blue chips gained in the day, amid market speculation that some major Chinese mainland cities were slightly loosening control on the property market.

China Resources Land, a mainland-focused property developer, jumped 9.06 percent to end at 13 HK dollars per share, which made it the best-performing blue chip in the day. China Overseas Land, another mainland-focused property developer, advanced 5.45 percent to close at 14.32 HK dollars per share.

Shares of Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, increased 2.97 percent to 90.15 HK dollars. Henderson Land, another major developer in Hong Kong, rose 2.08 percent to 36.9 HK dollars. Hang Lung Properties gained 1.14 percent to 22.2 HK dollars per share. Sun Hung Kai Property, one of the largest property companies in Asia, edged up 0.16 percent to 93.75 HK dollars.

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