CHINA / Taiwan, HK, Macao |
Hong Kong shares rose modestly, boosted by China Mobile(Reuters)Updated: 2007-05-16 20:55 HONG KONG _ Hong Kong shares rose modestly Wednesday, boosted by gains in China Mobile and other heavyweights. The blue chip Hang Seng Index rose 69.11 points, or 0.3 percent, to 20,937.26. China Mobile rose 1 percent to HK$74.00, partly helped by Chairman Wang Jianzhou's comment Wednesday that the company may buy Pakistan telecommunications operator Paktel Ltd. from its parent. Banking heavyweight HSBC rose a slight 0.02 percent to HK$145.00, while conglomerate Hutchison ended 0.7 percent higher at HK$77.05. Turnover totaled HK$57.27 billion (US$7.33 billion; euro5.41 billion), down from HK$77.08 billion Tuesday. The Hong Kong stock market posted a record volume HK$94.99 billion Monday, as the city is seen as a primary beneficiary of Beijing's move to allow mainland banks to directly invest in overseas stocks under a program called Qualified Domestic Institutional Investors. Among other stocks, PetroChina ended 0.1 percent higher at HK$10.14. Some Chinese financial stocks fell after their recent strong rally. Industrial and Commercial Bank of China fell 0.2 percent to HK$4.30; China Construction Bank ended 0.6 percent lower at HK$4.89. New World Development fell a sharp 4.1 percent to HK$19.02, as investors were concerned of dilution after the company issued convertible bonds and raised HK$6 billion. |
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