HK stocks end 0.79 pct higher

Hong Kong stocks rose 170.78 points, or 0.79 percent, to close at 21,913.98 on Friday. The benchmark Hang Seng Index traded between 21,924.06 and 21,723.35. Turnover totaled 50.77 billion HK dollars (about 6.55 billion U.S. dollars), up from Thursday's 49.59 billion HK dollars. The Hang Seng China Enterprises Index rose 114.90 points, or 1.1 percent, to close at 10,606.99. All four sub-indices gained ground, with the Properties sub-index rising the most at 1.57 percent, followed by the Finance 0.83 percent, the Commerce and Industry 0.56 percent, the Utilities 0.3 percent. Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, closed 0.85 percent higher at 77.2 HK dollars. Its local unit Hang Seng Bank gained 0.6 percent at 117.5 HK dollars. Bank of East Asia, another Hong Kong's major bank, ended up 0.68 percent to 29.55 HK dollars. Local bourse operator HKEX rose 0.55 percent to 128 HK dollars. Local developers Hang Lung Properties gained 2.22 percent to 27.6 HK dollars. Henderson Land, another major developer in Hong Kong, rose 1.39 percent to 54.75 HK dollars, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, added 0.95 percent to 117.3 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, moved up 1.02 percent at 5.94 HK dollars. ICBC, the world's largest bank by market value, gained 0.77 percent at 5.24 HK dollars. Bank of China closed 1.57 higher at 3.23 HK dollars. Bank of Communications, China's fifth biggest lender measured by assets, rose 1.08 percent to 5.64 HK dollars.p As for energy stocks, China's top refiner Sinopec jumped 1.45 percent at 8.38 HK dollars. PetroChina, the country's largest oil and gas producer, closed flat at 10.28 HK dollars. CNOOC moved up 1.1 percent at 16.54 HK dollars. (1 U.S. dollar equals 7.751 HK dollars)