Hong Kong stocks close up 1.67% after Fed' unexpected decision

Hong Kong stocks closed up 1.67 percent on Thursday after the U.S. Federal Reserve said it would retain its massive stimulus program, which was out of the expectation of markets. The benchmark Hang Seng Index moved up 385.06 points to close at 23,502.51 points, after trading between a day high of 23,554.34 points and a day low of 23,469.03 points. Turnover expanded to 71.66 billion HK dollars (9.25 billion U.S. dollars) from Wednesday's 50.18 billion HK dollars. The H-Share Index moved up 181.53 points, or 1.71 percent, to end at 10,769.54 points. Banking giant HSBC ended up 2.03 percent at 87.95 HK dollars. China Mobile, China's dominant mobile carrier ended up 0.69 percent at 87.95 HK dollars. For Mainland lenders listed in Hong Kong, ICBC, China's largest bank by market value, edged up 1.82 percent to close at 5.59 HK dollars; CCB, the country's second largest lender by market capitalization, ended up 1.64 percent at 6.21 HK dollars; BOC, one of the "big four", ended up 1.39 percent at 3.65 HK dollars. For local property developers, Sun Hung Kai, HK's largest property developer by market value, ended up 5.02 percent at 108.7 HK dollars; Cheung Kong properties, owned by billionaire Li Ka- shing, edged up 2.33 percent to 122.8 HK dollars. PetroChina, the country's largest oil and gas producer ended up 2.17 percent at 8.93 HK dollars. Sinopec, China's top refiner, ended up 1.96 percent at 6.25 HK dollars. China Life, one of the world's largest life insurers by market value, ended up 1.68 percent at 21.2 HK dollars (1 U.S. dollar equals to 7.76 HK dollar).