Hong Kong stocks Thursday went up 199.69 points, or 0.82 percent, to close at 24,700.30, led by Chinese oil shares on expectations that that high inflation will boost the prices.8 The benchmark Hang Seng Index opened up 0.4 percent at 24,598. 81 and traded between 24,887.58 and 24,505.15 during the day's session.
Turnover totaled 122.79 billion HK dollars (about 15.84 billion U.S. dollars) compared with Wednesday's 109.28 billion HK dollars.
The Hang Seng China Enterprises Index went up 198.71 points, or 1.43 percent, to close at 14,088.03 HK dollars.
Three of the four sub-indices gained ground. The biggest gainers were the Commerce and Industry sub-index and the Finance sub-index, rising 0.97 percent and 0.96 percent respectively. The utilities edged up 0.07 percent. The Properties dipped 0.04 percent.
Heavyweight HSBC up 0.87 percent to 86.75 HK dollars, its local unit Hang Seng Bank retreated 0.16 percent to 121.90 HK dollars.
China Mobile, world's largest mobile operator by subscribers, fell 0.31 percent to 80.85 HK dollars.
Chinese mainland lenders closed up. Bank of China added 0.65 percent to 4.67 HK dollars. ICBC gained 2.87 percent to 6.82 HK dollars. China Construction Bank rose 0.78 percent to 7.72 HK dollars. Bank of Communications up 0.69 percent to 8.76 HK dollars.
As for local developers, Hang Lung down 0.41 percent to 36.55 HK dollars. Cheung Kong, a flagship of Hong Kong led by billionaire Li Ka-shing, edged down 0.7 percent at 126.90 HK dollars. Henderson added 0.75 percent to 60.15 HK dollars. Sun Hung Kai, the leading residential housing developer in the city, dipped 0.07 percent to 140.20 HK dollars.
Offshore oil producer CNOOC soared 3.36 percent at 17.84 HK dollars. PetroChina surged 3.35 percent at 10.50 HK dollars. Sinopec ended 2.85 percent higher at 7.94 HK dollars.
