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Roundup: Casino shares led HK stock market higher

Xinhua, July 2, 2015 Adjust font size:

Led by casino shares, Hong Kong stocks closed higher for the second straight day on Thursday despite a 3.48-percent fall in Shanghai Composite Index.

The benchmark Hang Seng Index rose 32.29 points, or 0.12 percent, to finish at 26,282.32 points, after trading between 26, 135.62 and 26,459.43.

Turnover totaled 150.85 billion HK dollars (about 19.46 billion U.S. dollars), compared with 155.87 billion HK dollars the previous trading day.

The Hang Seng China Enterprises Index fell 1.51 percent, or 196. 58 points, to close at 12,784.65.

Four sub-indices closed mixed. The Commerce and Industry sub- index rose 0.73 percent, and the Properties edged up 0.51 percent. The Utilities dipped 0.94 percent, and the Finance slid 0.34 percent.

Casino shares led the rises, after Macao on Wednesday relaxed visa restrictions for visitors from the mainland. Galaxy Entertainment Group jumped 13.27 percent to finish at 35.4 HK dollars. Sands China, the local subsidiary of casino tycoon Sheldon Adelson's Las Vegas Sands, rallied 12.07 percent to end at 29.25 HK dollars. MGM China leapt 15.93 percent to close at 14.7 HK dollars.

Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, fell 0.85 percent to 69.55 HK dollars, while its local unit Hang Seng Bank closed up 0.13 percent to 151.7 HK dollars. Local bourse operator HKEX lost 1.83 percent at 268.6 HK dollars.

Local developers closed mixed. Hang Lung Properties added 1.52 percent to 23.4 HK dollars. Henderson Land, another major developer in Hong Kong, dropped 0.09 percent to 53 HK dollars. CKH Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, edged down 0.09 percent to 113.8 HK dollars.

Mainland-based companies finished lower. Industrial and Commercial Bank of China, the world's biggest bank of market value, lost 0.16 percent to end at 6.15 HK dollars. China Construction Bank, the country's second largest lender, fell 0.28 percent at 7. 06 HK dollars. Endi