Hong Kong share prices closed 0.76 percent higher on Thursday, as investors accumulated blue chip in late trade.

The Hang Seng Index closed up 174.28 points at 23,016.20, off a low of 22,817.92 and a high of 23,024.50 and turnover was 70.82 billion HK dollars.

Among major blue chips, China Mobile rose 0.83 percent at 90.95 and Hutchison Whampoa up 3.40 HK dollars or 4.07 percent at 86.95, while HSBC was up 0.10 HK dollar or 0.07 percent at 145.80.

China financials were all closed higher, with Bank of China up 3.94 percent at 4.22 HK dollars, China Communication Bank up 0.68 percent at 8.87 and China Construction Bank up 0.13 HK dollars or 2.28 percent at 5.83. ICBC gained 0.11 HK dollars or 2.29 percent to 4.92

The oil sector was mixed, PetroChina was up 0.06 HK dollar or 0.5 percent at 12.02 but SINOPEC fell 0.08 HK dollar or 0.96 percent to 8.27.

After the news that China will increase resources tax levied on lead, zinc, copper and tungsten ores from August 1, Jiangxi Copper was down 0.18 HK dollars or 1.11 percent at 14.64, but other metal firms ended higher, Hunan Nonferrous Metals rose 0.06 HK dollars or 0.18 percent to 5.15 and Zijin Mining up 0.20 HK dollar or 4.02 percent at 5.18.

Local banks were mixed, with Hang Seng Bank up 2.60 HK dollars or 2.36 percents at 112.90, Bank of East Asia down 0.55 HK Dollars or 1.19 percent at 45.75 and BOC Hong Kong unchanged.

(Xinhua News Agency July 20 2007)