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Roundup: Hong Kong stocks close 0.26 pct higher

Xinhua, March 2, 2015 Adjust font size:

Hong Kong stocks rose 64.15 points, or 0.26 percent, to close on Monday at 24,887.44 points, after the benchmark Hang Seng Index trading between 24,997.83 and 24,715.38.

Turnover totaled 79.7 billion HK dollars (10.3 billion U.S. dollars).

The People's Bank of China (PBOC) on Saturday announced it would cut the lending and deposit interest rates by 25 basis points(bps), the latest easing measure by the world's second largest economy.

The Hang Seng China Enterprises Index ended up 27.9 points, or 0.23 percent, to close at 12,213.75 points.

Three of the four sub-indices gained ground. The Properties and Commerce & Industry sub-indices rose 0.49 percent and 0.05 percent respectively. The Finance gained 0.59 percent while the Utilities slid 1.76 percent.

Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, closed down 0.36 percent to 69.55 HK dollars, and its local unit Hang Seng Bank dropped 0.71 percent to 140.4 HK dollars. Local bourse operator HKEX ended flat at 179 HK dollars.

Property and financial stocks led the rally. Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, rose 1.89 percent to 156.4 HK dollars. China Resources Land Limited was up 1.2 percent to 20.85 HK dollars.

Bank of Communications gained 0.9 percent to 6.75 HK dollars. China Life Insurance rose 0.15 percent to 33.3 HK dollars. China Shenhua Energy Company also advanced 1.72 percent to 20.65 HK dollars.

Environmental protection related stocks gained as an ex state TV anchor's self-funded documentary on smog becomes trending topic on the weekend.

Dongjiang Environmental Company surged 8 percent to 29.2 HK dollars. BYD Company Limited rose 4.4 percent to 35.3 HK dollars.

Bucking the trend, China Unicom lost 3.06 percent to 12.66 HK dollars.China Resources Power Holdings Company dropped 2.68 percent to 20 HK dollars. MTR Corporation lost 1.25 percent to 35. 55 HK dollars. Endi