HK stocks end up 0.83 percent as heavyweights gain

Hong Kong stocks moved up 0.83 percent Thursday as heavyweights like HSBC, China Mobile and ICBC gained. The benchmark Hang Seng Index moved up 180.05 points or 0.83 percent to close at 21,821.87 points, after trading between a day high of 21,832.56 points and a day low of 21,506.05 points. Turnover was 58.7 billion Hong Kong dollars (7.57 billion U.S. dollars). The H-Share Index gained 119.16 points, or 1.13 percent, to end at 10,701.21 points. Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, went up 0.26 percent to 76.6 HK dollars. China Mobile, China's dominant mobile carrier, ended up 1.57 percent at 87.3 HK dollars. Another Chinese telecom giant China Unicom, added 0.63 percent to 12.74 HK dollars. Local bourse operator HKEX ended 128.6 HK dollars with rising 0.55 percent. Esprit Holdings Limited, a local apparel manufacturer, gained 5.75 percent to close at 10.66 HK dollars, becoming the best performer among blue chips for two consecutive days. As for mainland-based financial stocks, Industrial and Commercial Bank of China Ltd (ICBC), China's largest bank by market value, went up 1.37 percent to close at 5.2 HK dollars; CCB, the country's second largest lender by market capitalization, moved up 0.86 percent to close at 5.89 HK dollars; while BOC, one of the "big four", ended up 0.63 percent to 3.21 HK dollars. For local property developers, Sun Hung Kai, HK's largest property developer by market value, edged up 0.65 percent to close at 108.6 HK dollars; Cheung Kong properties, owned by billionaire Li Ka-shing, increased 0.44 percent to close at 115 HK dollars. PetroChina, the country's largest oil and gas producer, closed down 0.57 percent to 10.52 HK dollars. Sinopec, China's top refiner, gained 2.07 percent to 8.4 HK dollars. China Life, one of the world's largest life insurers by market value, added 2.18 percent to 23.4 HK dollars. Ping An Insurance, China's second largest insurer, increased 0.9 percent to 61.95 HK dollars. (1 U.S. dollar is equivalent to 7.75 HK dollars)