HK stocks close 0.99 pct higher

Publish time: 2nd August, 2011      Source: ChinaCCM
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Hong Kong shares ended higher on Monday, with the weighted index rising 223.12 points, or 0.99 percent, at 22,663.37.

The benchmark Hang Seng Index traded between 22,651 and 22,808.33. Turnover totaled 63.04 billion HK dollars (about 8.09 billion U.S. dollars).

The Hang Seng China Enterprises Index rose 166.76 points, or 1.35 percent, to close at 12,540.4.

Three out of four sub-indices gained ground, with the Properties rising the most by 1.68 percent, followed by the Commerce and Industry 1.05 percent, and the Finance 1.03 percent. The Utility fell 0.89 percent.

Banks were the biggest contributors to the index's rise, with heavyweight HSBC jumping 0.9 percent to 121.00 HK dollars. Bank of China gained 1.11 percent to 3.63 HK dollars and ICBC ended 1.01 percent higher at 5.99 HK dollars.

Property heavyweights closed higher generally. Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, rose 1.93 percent to 121.4 HK dollars. Hang Lung Properties gained 3.47 percent to 29.8 HK dollars and SHK PPT closed at 119.8 HK dollars, gaining 1.01 percent.

As for oil shares, the HK listed unit of China's National Offshore Oil Corporation, CNOOC, moved up 0.92 percent to 17.58 HK dollars. China's top refiner Sinopec gained 1.17 percent to 7.78 HK dollars and the country's largest oil and gas producer PetroChina rose 0.13 percent to 7.52 HK dollars.

Hong Kong-headquartered insurer AIA was the best-performing blue chip on the day, with its shares rising 3.14 percent to 29.55 HK dollars.

Xinyi Glass, one of the main manufacturers in the global glass industry, was the biggest loser on Monday, with its shares went down 5.33 percent to 6.22 HK dollars. (1 U.S. dollar = 7.793 HK dollars)

Source: Xinhua