Hong Kong stocks close 0.47% higher

GMT 16:06 2014 Friday ,22 August

Arab Today, arab today Hong Kong stocks close 0.47% higher

Hong Kong stocks ended
Hong Kong - XINHUA

 Hong Kong stocks ended up 0.47 percent on Friday, with the benchmark Hang Seng index rising 118. 13 points to end at 25,112.23 points, after trading between 25,025. 94 and 25,132.93. Turnover totaled 63.67 billion HK dollars (about 8.21 billion U.S. dollars).
The Hang Seng China Enterprises Index rose 116.32 points, or 1. 06 percent, to close at 11,058.69.
Four sub-indices all gained ground, with the Finance sub-index rising the most by 0.78 percent, followed by the Utility 0.60 percent, the Properties 0.29 percent and the Commerce and Industry 0.16 percent.
Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, closed up 0.9 percent to 83.20 HK dollars, while its local unit Hang Seng Bank closed 0.1 percent higher at 132.60 HK dollars. Local bourse operator HKEX gained 0.7 percent at 183.70 HK dollars.
Local developers Hang Lung Properties jumped 3.2 percent to 25. 45 HK dollars. Henderson Land, another major developer in Hong Kong, went down 1.0 percent to 50.70 HK dollars, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, decreased 0.6 percent to 146.00 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 1.0 percent to 5.89 HK dollars. ICBC, the world's largest bank by market value, added 0.8 percent to 5.22 HK dollars. Bank of China ended up 0.5 percent to 3.67 HK dollars.
PetroChina, the country's largest oil and gas producer, increased 1.3 percent to 10.88 HK dollars. (1 U.S. dollar equals 7. 761 HK dollars)

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