Hong Kong stocks continued the bullish trend to end higher Tuesday with turnover reaching a seven- year high.
The benchmark Hang Seng Index rose 45.77 points, or 0.18 percent, to close at 24,909.89 points, after trading between 24, 876.37 and 25,113.2. Turnover totaled 148.88 billion HK dollars ( about 19.2 billion U.S. dollars).
The Hang Seng China Enterprises Index rose 0.32 percent, or 39. 53 points, to close at 12,346.09.
Half of the four sub-indices gained ground, with the Utilities up 1.3 percent. The Commerce and Industry rose 0.83 percent. The Properties fell 0.97 percent, and the Finance retreated 0.17 percent.
Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, closed down 0.37 percent at 66.7 HK dollars, while its local unit Hang Seng Bank gained 0.07 percent to 140.5 HK dollars. Local bourse operator HKEX decreased 1.19 percent to close at 190.7 HK dollars.
Local developers Hang Lung Properties rose 1.17 percent to 21.7 HK dollars. Henderson Land, another major developer in Hong Kong, climbed 0.18 percent to 54.70 HK dollars, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka- shing, went down 1 percent to 158.9 HK dollars.
As for mainland-based financial stocks, China Construction Bank, the country's second largest bank which accounts for the third largest weighting of the Hang Seng Index, added 0.78 percent to 6. 47 HK dollars. ICBC, the world's largest bank by market value, closed 1.24 percent higher at 5.72 HK dollars. Bank of China gained 1.12 percent to 4.51 HK dollars.
PetroChina, the country's largest oil and gas producer, was up 0.82 percent to 8.58 HK dollars. Sinopec, another leading oil refiner, ended at 6.19 HK dollars, up 1.14 percent. (1 U.S. dollar equals 7.761 HK dollars)
