HK stocks end 1.96 pct higher

HONG KONG, Feb. 28 (Xinhua) -- Hong Kong shares ended higher on Thursday, with the weighted index soaring 443.26 points, or 1.96 percent, to 23,020.27.

The benchmark Hang Seng Index traded between 23,031.69 and 22,734.84. Turnover totaled 86.86 billion HK dollars (about 11.2 billion U.S. dollars).

The Hang Seng China Enterprises Index rose 292.83 points, or 2. 63 percent, to close at 11,437.17.

All four sub-indices gained ground, with the Finance sub-index gained the most of 2.56 percent. The Properties moved up 2.01 percent, followed by the Commerce & Industry rising 1.34 percent and the Utilities 0.62 percent.

Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, soared 2.2 percent to 85.85 HK dollars, while its local unit Hang Seng Bank went up 1.46 percent to 125.4 HK dollars. Bank of East Asia, another Hong Kong's major bank, gained 0.48 percent to 31.7 HK dollars.

Most of Chinese mainland lenders gained more than 3 percent. China Construction Bank, the country's second largest bank which accounts for the third largest weighting of the Hang Seng Index, rose 3.56 percent to 6.4 HK dollars. ICBC, the world's largest bank by market value, went up 3.15 percent to 5.57 HK dollars. Bank of Communications, China's fifth biggest lender measured by assets, rose 3.54 percent to close at 6.14 HK dollars. Bank of China moved up 3.1 percent at 3.66 HK dollars.

Local developers also closed higher. Hang Lung Properties gained 2.21 percent to 30.05 HK dollars. Henderson Land, one of the major developers in Hong Kong, moved up 0.94 percent to 53.95 HK dollars. Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, went up 1.09 percent to 120. 6 HK dollars.

As for energy stocks, China's top refiner Sinopec added 1.03 percent to 8.82 HK dollars. PetroChina, the country's largest oil and gas producer, gained 0.95 percent to 10.66 HK dollars.

CITIC Pacific was the best-performing blue chip in the day, with its shares rising 7.58 percent to 11.92 HK dollars.

Li & Fung was the worst-performing blue chip in the day, with its shares dropping 0.95 percent to 10.4 HK dollars. (1 U.S. dollar equals 7.756 HK dollars)

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