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Hong Kong stocks end 0.99% higher

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Arab Today, arab today Hong Kong  stocks end 0.99% higher

Hong Kong - XINHUA

Hong Kong stocks rose 225.13 points, or 0.99 percent, to close at 22,915.09 on Monday. The benchmark Hang Seng Index fluctuated between 22,980.56 and 22,864.91. Turnover totaled 51.97 billion HK dollars (6.84 billion U.S. dollars). The Hang Seng China Enterprises Index gained 155.78 points, or 1.44 percent, to close at 11,001.77. All four sub-indices went up, with the Properties adding the most by 1.28 percent, followed by the Finance 1.09 percent and the Commerce and Industry 0.89 percent. The Utilities rose 0.25 percent to close at 58,041.79. Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, went up 0.94 percent to 86.05 HK dollars, while its local unit Hang Seng Bank closed at 129.3 HK dollars, up 0.39 percent. China Mobile, China\'s dominant mobile carrier, gained 0.41 percent to finish at 85.15 HK dollars. As for local property developers, Sun Hung Kai, HK\'s largest property developer by market value, climbed 0.99 percent to 111.7 HK dollars; Cheung Kong properties, owned by billionaire Li Ka-shing, gained 0.95 percent to 117.2 HK dollars. Most mainland-based financial stocks rallied. China Construction Bank, the country\'s second largest bank which accounts for the third largest weighting of the Hang Seng Index, ended 0.93 percent higher at 6.52 HK dollars. ICBC, the world\'s largest bank by market value, rose 1.29 percent to 5.5 HK dollars. Bank of China went up 1.1 percent to 3.69 HK dollars. As for energy stocks, China\'s top refiner Sinopec gained 1.67 percent to 8.51 HK dollars. PetroChina, the country\'s largest oil and gas producer, increased 2.1 percent to 9.73 HK dollars.

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