Hong Kong's Stock Reach Higher on Wednesday
As we can see from the news that after the International Energy Agency revised its crude oil demand forecasts, Hong Kong shares finished 1.1% higher on Wednesday, led by Chinese oil companies.
The data showed that Hong Kong stocks rose 265.64 points, or 1.1%, to close at 24,419.62 on Wednesday. It is reported that the bench mark Hang Seng Index traded between 24,243.88 and 24, 434.40. Bowl over totaled 10.40 billion U. S. dollars, up from 9.90 billion U.S. dollars.
It is said by the analysts that they expected the benchmark index to trade in a range of 24,000 to 24,500 this month as investors were likely to continue the avocations beforehand of the Lunar New Year holiday, which fell on the first week of February this year. The index has risen 6% since the start of this year.
It is reported that all the four sub-indices advanced. The Commerce Department and Industry sub-index rose most at 1.72 percent, abided by the Finance at 0.86%, the Utilities at 0.58% and the attributes at 0.09 %.
As we can know from the news that oil companionships were one of the biggest gainers of the day. PetroChina rose 1.67% to 10.98 HK dollars. Offshore oil producer CNOOC advanced 2.43% to 19.4 HK dollars. Sinopec surged 4.39% to 8.09 HK dollars.
It is reported that the behemoth HSBC Holdings rose 0.51% to 87.95 HK dollars. Other local lenders closed amalgamated. StanChart elevated 2.36% to 217 HK dollars. Hang Seng Bank slid 0.45% to 132.3 HK dollars. Bank of East Asia rose 1.72% to 35.45 HK dollars.
As we all know that China Mobile, the world's largest mobile manipulator by broadcast, advanced 2.6% to 78.85 HK dollars as DBS Vickers raised its rating to Buy. China Unicom closed in up 3.29%, while China Telecom 4.45% up, gear stock ZTE flat.
Among other blue chips, HKEX, the city's sole bourse manipulator, rose 1.14% to 186.6 HK dollars. Anne Hutchinson Whampoa rose 0.16% to 93.65 HK dollars following wavering for the whole day.
The local giant fell 2.4% on Tuesday after it surged 17 percent as yet this month, although the company said Tuesday it plans to by-product its ports assets in a Singapore listing.
On Chinese financial firms' side, ICBC, the world's largest bank by market price, rose 0.67% to 6.04 HK dollars. China Construction Bank rose 1.4% to 7.22 HK dollars. Bank of China rose 1.18% to 4.29 HK dollars.
Aluminium producer Chalco extended Tuesday's gains by jumping 3.9% to 7.8 HK dollars after saying Monday it anticipates to have swung to a net profit last year referable an growth in product prices and sales volume. Chalco was down 27% in the year ended Monday, equated with a 12% rise in the Hang Seng Index over as is period.
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