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Hong Kong Stocks Close Higher Thanks to China Mobile Rebound
Hong Kong stocks ended higher Monday thanks to a more than five percent rebound for market heavyweight China Mobile, China's biggest mobile phone operator.
The benchmark Hang Seng Index was up 168.83 points, or 1.21 percent, to close at 14,135.26 Monday, with an turnover of 9.798 billion HK dollars (US$1.256 billion), a decrease of 3.882 billion HK dollars (US$498 million) compared with the previous trading day.
Of the four sub-indices, Finance and Utilities registered losses of 0.50 percent and 0.01 percent, respectively, while Properties and Commerce & Industry recorded gains of 1.62 percent and 2.49 percent, respectively.
China-related stocks posted gains with the Hang Seng China Enterprises Index up 1.37 percent and Hang Seng China-Affiliated Corporations Index up 1.79 percent.
The Hang Seng IT Index and the Hang Seng IT Portfolio Index increased 4.05 percent and 1.34 percent, respectively.
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