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Roundup: Hong Kong stocks close 0.92 pct higher

Xinhua, May 26, 2015 Adjust font size:

Hong Kong shares ended higher on Tuesday, boosted by the approval of a long-awaited fund recognition scheme between the mainland and Hong Kong.

The benchmark Hang Seng Index rose 257.03 points, or 0.92 percent, to close at 28,249.86, after trading between 28,237.49 and 28,524.6. Turnover totaled 200.16 billion HK dollars (25.83 billion U. S. dollars).

The Hang Seng China Enterprises Index moved up 368.58 points, or 2.55 percent, to close at 14,801.94.

One of the four sub-indices gained ground. The Finance sub- index rose by 1.95 percent. The Utilities fell 0.47 percent, and the Properties edged down 0.02 percent. The Commerce & Industry closed flat.

Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, dipped 0.73 percent to 74.6 HK dollars.

Bank of East Asia, one of the largest local banks in Hong Kong, rose 0.71 percent to close at 35.65 HK dollars.

Local bourse operator HKEX jumped 5.38 percent to 309.4 HK dollars, making itself the best performing blue-chip of the day.

China Mobile, China's dominant mobile carrier, advanced 0.57 percent to 106.4 HK dollars. China Unicom, another Chinese telecom giant, gained 1.61 percent to 13.86 HK dollars.

Local property stocks closed mixed. Sun Hung Kai, one of Hong Kong's largest property developer by market value, rose 2.33 percent to 136.4 HK dollars. Henderson Land climbed 1.56 percent to 65.25 HK dollars. CKH Holdings, which was controlled by multimillionaire Li Ka-shing, slid 4.12 percent to 165.1 HK dollars.

Mainland-based financial stocks closed higher. Bank of China gained 2.66 percent to close at 5.41 HK dollars. Bank of Communication rose 3.06 percent to 7.75 HK dollars. ICBC closed 2. 21 percent higher at 6.95 HK dollars, and China Construction Bank gained 2.41 percent to 7.91 HK dollars.

As for energy stocks, China's top refiner Sinopec rose 2.28 percent to 7.17 HK dollars. PetroChina, the country's largest oil and gas producer, gained 1.15 percent to 9.64 HK dollars. (1 U.S. dollar equals 7.75 HK dollars) Endi