Hong Kong stocks gained ground on Wednesday, led by heavyweights, after a slight dip on the previous trading day.

The benchmark Hang Seng Index moved up 268.07 points, or 1.12 percent, to close at 24,111.98 on Wednesday, after trading between 23,799.42 and 24,176.64. Turnover totaled 87.6 billion HK dollars.

The Hang Seng China Enterprises Index jumped 2.49 percent, or 268.44 points, to close at 11,051.35.

All of the four sub-indices closed higher. The Finance rose 1. 91 percent; the Utilities increased 1.43 percent; the Properties gained 0.56 percent; the Commerce and Industry edged up 0.33 percent.

Heavyweights including mainland-based insurers and lenders led the rises. China Life Insurance jumped 7.2 percent to close at 26. 8 HK dollars. China Ping An Insurance added 3.65 percent to end at 63.95 HK dollars.

Bank of Communications climbed 3.28 percent to 5.99 HK dollars. Bank of China, the country's second largest lender, gained 2.37 percent to finish at 3.89 HK dollars. The Industrial and Commercial Bank of China, the nation's largest lender, rose 1.57 percent to close at 5.17 HK dollars.

Bucking the trend, consumer and energy shares posted lackluster performances. PetroChina, the country's leading oil producer, dipped 0.11 percent to 8.76 HK dollars. China Unicom dropped 0.34 percent to 11.78 HK dollars, while China Mobile edged down 0.1 percent to 95.9 HK dollars.

As for local heavyweights, banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, increased 1.17 percent to 77.95 HK dollars. Sun Hung Kai, HK's largest property developer by market value, ended 0.08 percent lower to 114.7 HK dollars. Endi

Go to Forum >>0 Comment(s)