Hong Kong stocks close 0.62% higher

GMT 15:08 2015 Tuesday ,28 July

Arab Today, arab today Hong Kong stocks close 0.62% higher

Hong Kong stocks
Hong Kong - XINHUA

Hong Kong stocks ended higher on Tuesday with the benchmark Hang Seng index rising 0.62 percent, or 151.98 points to end at 24,503.94 points. Turnover totaled 115.27 billion HK dollars (about 14.86 billion U.S. dollars).

The Hang Seng China Enterprises Index fell 57.63 points, or 0. 51 percent, to close at 11,173.04.

Four sub-indices all gained ground, with the Commerce and Industry sub-index rising the most by 0.79 percent, followed by the Finance 0.61 percent, the Utility 0.48 percent and the Properties 0.16 percent.

Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, rose 1.6 percent at 68.85 HK dollars, while its local unit Hang Seng Bank closed up 0.3 percent to 154.70 HK dollars. Local bourse operator HKEX went up 1.0 percent at 211.20 HK dollars.

Local developers Hang Lung Properties rose 0.5 percent to 22.00 HK dollars. Henderson Land, another major developer in Hong Kong, declined 0.5 percent to 51.30 HK dollars, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka- shing, increased 0.4 percent to 111.80 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, went down 0.3 percent to 6.26 HK dollars. ICBC, the world's largest bank by market value, was down 0.7 percent to 5.40 HK dollars. Bank of China slid 0.7 percent to 4.26 HK dollars.

PetroChina, the country's largest oil and gas producer, added 2. 0 percent to 7.62 HK dollars. (1 U.S. dollar equals 7.761 HK dollars)

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