Roundup: HK stocks close up with turnover reaching 7-year high

Tracking gains on the Shanghai bourse, Hong Kong stocks continued the bullish trend to end higher Wednesday.

The benchmark Hang Seng Index rose 181.86 points, or 0.73 percent, to close at 25,082.75, after trading between 24,926.11 and 25,099.06. Turnover totaled 110.32 billion HK dollars (about 14.23 billion U.S. dollars).

The Hang Seng China Enterprises Index rose 1.55 percent, or 191. 19 points, to close at 12,537.28.

Three of the four sub-indices gained ground. The Properties was up 0.95 percent, followed by the Finance up 0.91 percent and the Commerce and Industry up 0.65 percent. The Utilities fell 0.93 percent.

Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, closed down 0.15 percent at 66.55 HK dollars, while its local unit Hang Seng Bank climbed 0.36 percent to 141 HK dollars. Local bourse operator HKEX gained 2.89 percent to close at 195.5 HK dollars.

Local developers Hang Lung Properties rose 0.92 percent to 22 HK dollars. Henderson Land, another major developer in Hong Kong, climbed 2.57 percent to 55.85 HK dollars, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka- shing, went up 0.25 percent to 159.2 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, added 0.77 percent to 6. 49 HK dollars. ICBC, the world's largest bank by market value, closed 0.7 percent higher at 5.76 HK dollars. Bank of China gained 2.01 percent to 4.57 HK dollars.

PetroChina, the country's largest oil and gas producer, was up 0.58 percent to 8.63 HK dollars. Sinopec, another leading oil refiner, ended at 6.19 HK dollars, up 0.32 percent. (1 U.S. dollar equals 7.761 HK dollars) Endi