Hong Kong stocks ended 1.69 percent higher on Tuesday, with the benchmark Hang Seng index rising 394.97 points to close at 23,782.11 points, after trading between 23,423.34 and 23,803.17. Turnover totaled 71.71 billion HK dollars (about 9.22 billion U.S. dollars).

The Hang Seng China Enterprises Index rose 249.49 points, or 2. 41 percent, to close at 10,605.22.

Four sub-indices all gained ground, with the Finance sub-index rising the most by 1.79 percent, followed by the Commerce and Industry 1.70 percent, the Properties 1.63 percent and the Utility 0.76 percent.

Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, closed 1.3 percent higher at 80.10 HK dollars, while its local unit Hang Seng Bank closed up 0.5 percent at 129. 50 HK dollars. Bank of East Asia, another Hong Kong's major bank, was up 0.9 percent at 32.20 HK dollars. Local bourse operator HKEX gained 2.1 percent at 157.00 HK dollars.

Local developers Hang Lung Properties closed 1.1 percent higher at 23.60 HK dollars. Henderson Land, another major developer in Hong Kong, went up 1.0 percent to 46.35 HK dollars, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, was up 1.60 percent to 139.60 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, grew 1.8 percent to 5.68 HK dollars. ICBC, the world's largest bank by market value, climbed 1.6 percent to 5.05 HK dollars. Bank of China rose 1.1 percent to 3.53 HK dollars. Bank of Communications, China's fifth biggest lender measured by assets, ended up 2.1 percent at 5.28 HK dollars.

PetroChina, the country's largest oil and gas producer, jumped 3.2 percent to 10.48 HK dollars. (1 U.S. dollar equals 7.761 HK dollars) Endi

Go to Forum >>0 Comment(s)