Stocks News
- Hong Kong stocks end at another record high
Date: 31-Oct-2007 Sources: (Shenzhen Daily)
HONG KONG, Oct. 30 (Xinhua) -- Hong Kong stocks closed up 51 points, or 0.16 percent at 31,638 points, hitting another record high buoyed by blue chips especially in the banking sector.
The benchmark Hang Seng Index once plunged 225 percent in early session on the news over share placement by property developer SHKPPT, then jumped to a historical high of 31,958, but tightened its gain in the afternoon. Turnover rose to 185 billion HK dollars (24 billion U.S. dollars) from 178 billion HK dollars on Monday.
The banking sector witnessed strong performance. CCB hiked another 6.29 per cent, setting a new high on 3-month net profit of 22.8 billion yuan; Bankcomm, in which HSBC raised holding to 19.15 percent, tightened its gain to 1.55 per cent after breaking a new high of 14.92 HK dollars.
ICBC that subscribed for a 20 percent stake in the Standard Bank at 42.31 billion HK dollars continuously added 2.34 percent. Bank of China and CM Bank climbed 2.07 per cent and 0.9 percent.
The property sector, which has led the market rally over the pass days, closed mixed. SHK PPT sank 6 percent to 150.5 HK dollars. Henderson Land rose 2 percent to 69.7 HK dollars.
Sino Land declined 2.6 percent to 24.8 HK dollars. Cheung Kong sank 2.7 percent to 154.2 HK dollars despite Citi group's target upgrade.
On resource stocks side, PetroChina edged up 0.71 percent, with A shares priced at the higher end of 16.7 HK dollars; Sinopec Corprose 2.06 percent on a 7.8 percent rise in 3-month net profit. CNOOC narrowed its rise to 2.17 percent after breaking a new high of 17.6 HK dollars. China Oilfield jumped 6.11 percent, spurred by a 73.4 percent growth in third quarter net profit.
Heavyweight HSBC was a tick lower at 149.8 HK dollars while China Mobile edged down 0.6 percent to 158 HK dollars. (One U.S. dollar equals 7.74 HK dollars)
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