Hong Kong stocks close 0.88% higher

GMT 16:51 2014 Monday ,28 July

Arab Today, arab today Hong Kong stocks close 0.88% higher

Hong Kong stocks
Hong Kong - XINHUA

Hong Kong stocks rose 212.62 points, or 0.88 percent, to close at 24,428.63 points on Monday.
The benchmark Hang Seng Index traded between 24,248.36 and 24, 501.13. Turnover totaled 85.46 billion HK dollars (about 11.03 billion U.S. dollars).
The Hang Seng China Enterprises Index rose 79.38 points, or 0. 72 percent, to close at 11,072.62.
Three of the four sub-indices gained ground. The Finance sub- index gained the most at 1.08 percent, followed by the Commerce & Industry, 0.93 percent, the Properties, 0.26 percent, while the Utilities fell 0.26 percent.
Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, rose 0.67 percent to close at 82.25 HK dollars. Its local unit Hang Seng Bank rose 0.15 percent at 130 HK dollars. Bank of East Asia, another Hong Kong's major bank, added 0.77 percent at 32.90 HK dollars. Local bourse operator HKEX surged 3.43 percent to 169 HK dollars.
Local developers closed mixed. Hang Lung Properties dropped 1. 06 percent to 23.40 HK dollars. Henderson Land, Another major developer in Hong Kong, grew 0.21 percent to 46.70 HK dollars. Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, edged up 0.28 percent to 143 HK dollars. Sun Hung Kai Properties lowered 0.28 percent to 107.60 HK dollars.
Mainland-based financial stocks closed higher. Bank of China gained 1.37 percent to 3.70 HK dollars. Bank of Communications surged 6.22 percent to 5.81 HK dollars. China Construction Bank went up 1.37 percent to 5.90 HK dollars. ICBC rose 1.54 percent to 5.28 HK dollars.
As for energy stocks, PetroChina fell 1.29 percent at 10.68 HK dollars. CNOOC lost 0.29 percent to 13.98 HK dollars. Sinopec fell 1.18 percent to 7.54 HK dollars. (1 U.S. dollar equals 7.75 HK dollars)

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