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People's Daily Online>>China Business

HK stocks close higher, China's developers lead


09:11, March 14, 2012

HONG KONG, March 13 (Xinhua) -- Hong Kong shares closed higher on Tuesday, helped by the property developers in the Chinese mainland after media reported China will continue offering mortgage loans to first-time home buyers.

Hong Kong stocks rose 205.52 points or 0.97 percent to close at 21,339.70 on Tuesday. The benchmark Hang Seng Index traded between 21,261.32 and 21,427.12. Turnover totaled 60.04 billion HK dollars (about 7.74 billion U.S. dollars).

The Hang Seng China Enterprises Index rose 130.37 points, or 1.16 percent, to close at 11,356.28.

Four sub-indices all gained ground, with the Properties sub-index rising the most by 1.65 percent, followed by the Finance 1.21 percent, the Utility 0.84 percent and the Commerce and Industry 0.56 percent.

China Overseas Land rose 2.5 percent to 15.84 HK dollars, while Shimao Property advanced 2.2 percent to 8.80 HK dollars. Longfor Properties soared 6.1 percent to 11.44 HK dollars.

Macau casinos operators outperformed as the Deutsche Bank analysts raised their outlook for 2012 revenue growth in the sector from 20 to 25 percent.

Wynn Macau surged 8.6 percent to 23.35 HK dollars, and SJM Holdings jumped 6.3 percent to 16.22 HK dollars. Galaxy Entertainment climbed 6.2 percent to 19.64 HK dollars.

Among other blue chips, HKEX, the city's sole bourse operator, was up 1.1 percent to 138.90 HK dollars. Hang Seng Bank fell 0.2 percent to 104.70 HK dollars. (7.759 HK dollars = 1 U.S. dollar)


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