Overseas markets lift HK barometer
Source: Xinhua |
February 11, 2010, Thursday
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Print Edition
Print Edition
HONG Kong stocks closed higher yesterday as external markets gained ground, with the benchmark Hang Seng Index adding 131.94 points, or 0.67 percent, to close at 19,922.22.
The Hang Seng Index opened 0.63 percent higher, after Wall Street ended higher overnight and the mainland market opened higher yesterday morning. Investors took their cues from a weaker United States dollar amid hopes that Germany will lead a bailout for Greece.
The Hang Seng Index trimmed gains after the market open and once dipped into negative ground. It moved between 19,976.66 and 19,681.54 during the session on a total turnover of HK$59.62 billion (US$7.64 billion), which was slightly less than Tuesday's HK$61.65 billion.
HSBC closed up 0.95 percent at HK$80.05 while China Mobile, the leading carrier on the mainland, closed down 1.38 percent at HK$74.95.
The finance sub-index was up 0.84 percent, the properties up 0.8 percent and the commerce and industry category up 0.52 percent. The utilities sub-index fell 0.24 percent.
The mainland-based banking giants were higher, with the Bank of China up 1.36 percent at HK$3.74, China Construction Bank up 0.68 percent and ICBC up 0.18 percent.
Shipping stock COSCO Pacific surged 5.86 percent to close at HK$11.2, lifted by strong export data on the mainland. China COSCO, however, shed 0.21 percent to HK$9.38 as analysts said the dry bulk shipping sector would remain under pressure.
Energy shares were also higher, with PetroChina up 0.71 percent, CNOOC up 2.88 percent, Sinopec up 0.34 percent, and coal producer Shenhua up 2.22 percent.
Cheung Kong, headed by Li Ka-shing, the richest man in Hong Kong, ended 0.27 percent off.
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