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People's Daily Online>>China Business

HK stocks close higher mainly owing to Tencent jump

(Xinhua)

08:48, March 16, 2012

HONG KONG, March 15 (Xinhua) -- Hong Kong shares closed higher on Thursday largely led by Tencent on its 43 percent jump in the fourth quarter revenue last year.

Hong Kong stocks rose 45.64 points or 0.21 percent to close at 21,353.53 on Thursday. The benchmark Hang Seng Index traded between 21,162.17 and 21,368.48. Turnover totaled 64.58 billion HK dollars (about 8.32 billion U.S. dollars).

The Hang Seng China Enterprises Index fell 59.84 points, or 0. 53 percent, to close at 11,240.57.

Two sub-indices gained ground, with the Finance sub-index rising 0.34 percent and Commerce and Industry 0.33 percent. The Properties fell 0.57 percent, while the Utility lost 0.51 percent.

China's internet giant Tencent soared 4.1 percent to 208.80 HK dollars after it posted 43 percent jump in fourth-quarter revenue in 2011 on Wednesday.

China's second-largest telecommunications equipment maker ZTE climbed 1.8 percent to 23.10 HK dollars, while Comba Telecom also advanced 3.7 percent to 5.07 HK dollars.

Index heavyweight China Mobile was up 0.5 percent at 84.65 HK dollars after it posted an expected net profit of 125.87 billion yuan (about 19.85 billion U.S. dollars) in 2011.

Chinese developers extended weakness by concerns over further curbs on China's property market.

China Overseas Land lost 2.7 percent to 15.36 HK dollars, while China Resources Land slid 1.6 percent to 13.54 HK dollars.

Among other blue chips, HKEX, the city's sole bourse operator, was up 0.5 percent to 139.70 HK dollars. Hang Seng Bank rose 0.5 percent to 104.40 HK dollars. (7.762 HK dollars = 1 U.S. dollar)

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