HONG Kong shares have risen 0.71 per cent to a 16-month high following another improvement in Chinese manufacturing activity and on hopes for fresh policies to boost the mainland economy.
The benchmark Hang Seng Index on Friday added 160.40 points to close at 22,605.98 on turnover of $HK72.35 billion ($A8.90 billion). The index has rallied 16 per cent since the beginning of October and is at its highest since August 1 last year.
HSBC said China's manufacturing activity hit a 14-month high this month, another sign the world's No.2 economy is picking up steam.
The bank's preliminary purchasing managers' index (PMI) hit 50.9, up from a final 50.5 in November when the figure returned to growth after 12 consecutive months of contraction.
Anything above 50 indicates expansion while a figure below signals contraction. The December reading is the highest since October last year.
Traders were also buoyed by expectations legislators in Beijing will hold a key annual meeting this weekend that will lay out major economic policies and goals for the next year.
"The two positive factors (for the Hong Kong market) - China's economic recovery and continued liquidity flow into Hong Kong - remain intact," said SHK Financial strategist Daniel So.
And South China Research said that with recovery under way in China, more easing in the United States and a brighter outlook for Europe "we envisage that the Hong Kong stock market will rally to a high of 26,000 points... in the coming year".
China Life rose 2.3 per cent to $HK24.05 and Ping An rallied 3.5 per cent to $HK62.95, but Longyuan Power dived 5.4 per cent to $HK5.23 after the wind-farm operator announced a share placement to raise $HK2.91 billion.
Chinese shares closed up more than four per cent in their biggest single-day rise this year. The benchmark Shanghai Composite Index soared 4.32 per cent, or 89.15 points, to 2,150.63 on turnover of 117.7 billion yuan ($A17.94 billion).
"The market is gaining momentum on expectations that the upcoming Central Economic Work Conference may release an official target for 2013 GDP growth and offer clues on urbanisation," Tebon Securities analyst Huang Cendong said, according to Dow Jones Newswires.
Financial-related stocks led the gains. Soochow Securities surged by its 10 per cent daily limit to 7.36 yuan, while Bank of Nanjing also rose 10 per cent to 9.13 yuan.
And among cement producers Shaanxi Qinling Cement jumped 10 per cent to 5.87 yuan, Gansu Qilianshan Cement rose 5.60 per cent to 10.18 yuan and Anhui Conch gained 4.69 per cent to 18.76 yuan.
Anda sedang membaca artikel tentang
Hong Kong stocks end 0.71% higher
Dengan url
http://cucidollaran.blogspot.com/2012/12/hong-kong-stocks-end-071-higher.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Hong Kong stocks end 0.71% higher
namun jangan lupa untuk meletakkan link
Hong Kong stocks end 0.71% higher
sebagai sumbernya
0 komentar:
Posting Komentar