Hong Kong stocks close up 1.27%

GMT 23:07 2014 Wednesday ,29 October

Arab Today, arab today Hong Kong stocks close up 1.27%

Hong Kong stocks
Hong Kong - XINHUA

Hong Kong stocks closed up 299. 51 points, or 1.27 percent, to 23,819.87 points on Wednesday.
The benchmark Hang Seng Index traded between 23,699.56 and 23, 855.67. Turnover totaled 79.61 billion HK dollars (about 10.26 billion U.S. dollars).
The Hang Seng China Enterprises Index rose 175.32 points, or 1. 66 percent, to close at 10,724.15.
All of the four sub-indices gained ground. The Commerce & Industry sub-index rose the most at 1.98 percent, followed by Properties at 0.96 percent, the Finance at 0.86 percent, the Utilities at 0.03 percent.
Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, rose 0.25 percent to close at 79.05 HK dollars. Its local unit Hang Seng Bank gained 0.54 percent to 130. 7 HK dollars.
Bank of East Asia, another Hong Kong's major bank, rose 0.31 percent to 32.1 HK dollars. Local bourse operator HKEx gained 0.12 percent to 169.4 HK dollars.
Local developers went up in general. Hang Lung Properties grew 0.43 percent to 23.45 HK dollars. Henderson Land, another major developer in Hong Kong, grew 0.38 percent to 52.2 HK dollars. Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, rose 1.19 percent to 134.9 HK dollars. Sun Hung Kai Properties added 0.61 percent to 115.4 HK dollars.
Mainland-based financial stocks ended up. Bank of China gained 0.82 percent to 3.71 HK dollars. Bank of Communications rose 1.4 percent to 5.8 HK dollars. China Construction Bank jumped 1.05 percent to 5.75 HK dollars. ICBC added 1.19 percent to 5.11 HK dollars.
As for energy stocks, PetroChina surged 2.82 percent to 9.84 HK dollars. CNOOC increased 0.97 percent to 12.56 HK dollars. Sinopec rose 1.95 percent to 6.79 HK dollars. (1 U.S. dollar equals 7.76 HK dollars)

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