HK stocks finish 4.55% higher, turnover surges

Special Report:Global Financial Crisis

pedestrian looks at the electronic board
displaying the Hang Seng Index of the Hong Kong Stock Exchange in Hong
Kong, south China, on April 14, 2009. Hong Kong's benchmark Hang Seng
Index closed up 678.75 points at 15,580.16 points on Tuesday. (Xinhua/Lui
Siu Wai)
Photo
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HONG KONG, April 14 (Xinhua) -- Driven by gains in
HSBC and the Chinese mainland stocks, Hong Kong stocks closed 4.55 percent
higher on Tuesday.

The benchmark Hang Seng Index closed up 678.75 points
at 15,580. 16, after rising as high as 15,596.34 intraday. The index is up 14. 8
percent from the beginning of April and up 37.3 percent from its March 9 low of
11,344.

Turnover jumped to 75.42 billion HK dollars from
52.66 billion Thursday, the last day of trading before Hong Kong's markets
closed Friday and Monday for the Easter holiday.

Boosted by a strong performance on the Chinese
mainland bourses during the extended break, traders said they expect the index
to hit 15,800 in the near term.

Chinese mainland shares rose to an eight-month high
Tuesday on hopes for a rebound in growth amid economic indicators showing signs
of improvement. Premier Wen Jiabao said over the weekend that March industrial
output might rise by as much as 8.3 percent from a year earlier.

HSBC led gains in Hong Kong after U.S. bank Goldman
Sachs said its first-quarter net income rose 20 percent. HSBC rose 9.3 percent
to 55.65 HK dollars and contributed 252.60 points to the HSI's gain.

Standard Chartered ended 10.4 percent higher at
117.10 HK dollars, and Manulife financial surged 16.4 percent to 120.60. HK
Exchanges, the local bourse operator, jumped 7.3 percent to 89.25 HK dollars on
strong turnover on the index.

Citic Pacific rose 16.6 percent to 12.38 HK dollars,
following a 12.1 percent advance on resuming trade Thursday, with investors
expecting a new start following a management shakeup that gives the
conglomerate's state-run parent firmer control.

Chinese firms also surged, Bank of China ended the
session up 4. 6 percent at 2.95 HK dollars, energy giant CNOOC rose 7.7 percent
to 8.78 and Chalco jumped 11.1 percent to 6.13 HK dollars.