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English>>China Business

HK stocks end 0.68 pct higher

(Xinhua)

08:34, October 23, 2012

HONG KONG, Oct. 22 (Xinhua) -- Hong Kong stocks rose 0.68 percent on Monday. The benchmark Hang Seng index closed up 145.79 points to end at 21,697.55 points, after trading between 21,431.24 and 21,699.07. Turnover totaled 51.08 billion HK dollars (about 6. 59 billion U.S. dollars).

The Hang Seng China Enterprises Index rose 59.18 points, or 0. 55 percent, to close at 10,742.79.

Four sub-indices all gained ground, with the Properties sub- indice rising the most by 0.94 percent, followed by the Finance 0. 77 percent, the Commerce and Industry 0.51 percent, and the Utility 0.44 percent.

Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, lost 0.1 percent to 76.50 HK dollars, while its local unit Hang Seng Bank ended 0.2 percent higher at 119.70 HK dollars. Bank of East Asia, another Hong Kong's major bank, closed up 0.2 percent to 29.00 HK dollars. Local bourse operator HKEX jumped 3.5 percent to 125.60 HK dollars.

Local developers Hang Lung Properties fell 0.2 percent to 26.55 HK dollars. Henderson Land, another major developer in Hong Kong, climbed 2.1 percent to 57.00 HK dollars, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka- shing, added 1.2 percent to 114.90 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, moved up 1.2 percent at 5.87 HK dollars. ICBC, the world's largest bank by market value, advanced 1.4 percent at 5.17 HK dollars. Bank of China was up 1.3 percent to 3.15 HK dollars. Bank of Communications, China's fifth biggest lender measured by assets, increased 0.9 percent to 5.87 HK dollars.

As for energy stocks, China's top refiner Sinopec ended up 1.0 percent to 8.36 HK dollars. PetroChina, the country's largest oil and gas producer, slid 1.3 percent to 10.94 HK dollars. (1 U.S. dollar equals 7.752 HK dollars)

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