HK stocks up 1.94% on Wed
Hong Kong stocks bounced strongly by 432.60 points or 1.94% on Wednesday after a four-session slump, boosted by the rebound on Wall Street and falling oil prices.
Hang Seng Index, the benchmark, rose 379.33 points, or 1.70% to open at 22,637.33. After touching the intraday high 22,751.04 points, the blue-chip Hang Seng Index slowed down to close at 22,690.60. Mainboard turnover rose to HK$53.30 billion (US$6.8 billion) from HK$47.5 billion on Tuesday.
Hang Seng China Enterprise Index, which tracks the overall performance of 43 Chinese mainland state-owned enterprises on Hong Kong Stock Exchange, surged 321.22 points, or 2.64% to 12,469.26 points.
Sinopec, Asia’s largest oil refiner, surged 4.94% to HK$8.29, and smaller rival PetroChina, the country’s largest oil producer and also involved in refining business, also rose 2.39% to HK$10.30.
Cathay Pacific advanced 1.2% to HK$15.16, while China Southern Airlines increased 2.68% to HK$3.45.
Industrial and Commercial Bank of China, the largest lender in the world by market value, finished up 4.06% to HK$5.89. Bank of China added 2.87% to HK$3.58.
Market heavyweight HSBC Holdings Plc, which accounts for the largest weighting for the Hang Seng Index, moved up 1.9% to HK$128.50.
Gome Electrical Appliances, the mainland’s second-largest electronics retailer by market value, climbed 2.29% to HK$3.17.
China Coal Energy, the country’s second-largest coal producer, rose 2.06% to HK$13.86.
Nine Dragons Paper declined 4.02% to HK$6.21.
Tags: china stock