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Hong Kong stocks end 0.25 pct higher

(Xinhua)

10:13, May 26, 2012

HONG KONG, May 25 (Xinhua) -- Hong Kong stocks rose 0.25 percent on Friday along with the external markets.

The benchmark Hang Seng index gained 47.01 points to end at 18, 713.41 points, after trading between a day low of 18,577.09 and a day high of 18,778.44 points.

Turnover totaled 46.01 billion HK dollars (about 5.93 billion U. S. dollars) compared with Thursday's 47.96 billion HK dollars.

The Hang Seng China Enterprises Index lost 2.04 points, or 0.02 percent, to close at 9,539.29.

Three out of four sub-indices gained ground, with the Properties rising the most by 0.64 percent, followed by the Finance 0.33 percent, and the Commerce & Industry 0.31 percent. The Utility fell 1.40 percent.

Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, gained 0.89 percent to close at 62.7 HK dollars, and its local unit Hang Seng Bank moved up 0.70 percent to 101.4 HK dollars. Bank of East Asia, another Hong Kong's major bank, fell 0.38 percent to 26.3 HK dollars. Local bourse operator Hong Kong Exchanges & Clearing increased 1.19 percent to 110.3 HK dollars.

As for Mainland-based financial stocks, China Construction Bank, the country's second largest bank which accounts for the third largest weighting of the Hang Seng Index, rose 0.78 percent to 5.15 HK dollars. ICBC, the world's largest bank by market value, went down 0.22 percent at 4.62 HK dollars. Bank of China gained 0.70 percent at 2.86 HK dollars. Bank of Communications, China's fifth biggest lender measured by assets, lost 0.79 percent to 5 HK dollars.

Local developers gained. Henderson Land, one of the major developers in Hong Kong, rose 1.59 percent to 38.45 HK dollars. Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, went up 0.38 percent to 91.5 HK dollars.

As for energy stocks, China's top refiner Sinopec rose 0.57 percent to 7.1 HK dollars. PetroChina, the country's largest oil and gas producer, moved up 0.99 percent to 10.18 HK dollars.

Hang Lung Properties was the best-performing blue chip in the day, with its shares rising 2.25 percent to 25.05 HK dollars.

Tingyi was the worst-performing blue chip in the day, with its shares falling 3.18 percent to 19.46 HK dollars. (1 U.S. dollar equals 7.76 HK dollars)

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