| HK stocks rebound 2.06% |
| 2007-11-24 05:20 |
| From:Xinhua Article type:Reproduced |
HONG KONG, Nov. 23 -- Hong Kong stocks recovered more than 500 points Friday but traded volume remained quiet to end this week's volatile trading due to worsening credit crisis in the United States. The blue-chip Hang Seng Index rebounded 536.17 points, or 2.06 percent, to close at 26,541.09 after fluctuating between daily high 26,723.34 and the day's lowest 26,305.45. The indicator opened 479.82 points, or 1.85 percent, higher at 26,484.74 and narrowed its gains to 310.41 points, or 1.19 percent, to close Friday's morning session at 26,315.33. Turnover shrank to 104.89 billion HK dollars (13.51 billion U.S. dollars on investor caution from Wednesday's 123.77 billion HK dollars (15.87 billion U.S. dollars). China Mobile, the country's largest mobile phone operator and the market's largest stock measured by capitalization, rebounded 2. 37 percent to 129.5 HK dollars, propelling the index alone by 92. 05 points. HSBC, another market heavyweight and the city's largest bank, added 1.15 percent to 131.7 HK dollars, boosting the index by 38. 88 points. Hong Kong's property companies all gained. Cheung Kong leaped 3. 19 percent to 132.8 HK dollars. Henderson Land advanced 1.87 percent to 59.8 HK dollars. Hutchison edged up 0.29 percent to 86.55 HK dollars. SHK Properties surged 2.41 percent to 140.5 HK dollars. Hang Lung gained 3.96 percent to 31.5 HK dollars. New World Development roared 4.67 percent to 26 HK dollars. Sino Land jumped 6.2 percent to 24 HK dollars. Hong Kong Exchange and Clearing Limited, the market's sole operator, rose 1.42 percent 214 HK dollars. The H-shares index, which was composed of companies registered on the Chinese mainland, recovered 130.29 points, or 0.84 percent, to close at 15,691.71. Oil sectors were stronger. PetroChina, the largest oil producer in China, rose 1.13 percent to 14.28 HK dollars. Sinopec, the largest oil refiner in Asia, increased 2.79 percent to 10.32 HK dollars. CNOOC, China's largest offshore oil producer, jumped 4.4 percent to 13.3 HK dollars amid reports that the Chinese company is to buy stakes of a Nigerian offshore blocks from Shell. Most of China's Banking and financials rebounded. ICBC, China's largest lender, jumped 3.47 percent to 5.96 HK dollars. CCB, the second largest bank in China, leaped 3.05 percent to 7.09 HK dollars. Bank of China went up 1.5 percent to 4.05 HK dollars. China Merchants Bank surged 3.05 percent to 32.1 HK dollars. ChinaLife, the largest life insurer in China, rebounded 1.67 percent to39.65 HK dollars. Ping An outperformed the index by losing 1.3 percent to 79.5 HK dollars. (7.77 HK dollars = 1 U.S. dollars) |
| (Source: English Site of Department of Information Technology) |
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