Hong Kong stocks close 1.38% up

HONG KONG, May 18 (Xinhua) -- Hong Kong stocks moved
up 232.21 points, or 1.38 percent to close at 17,022.91 on Monday.

Turnover climbed to 66.38 billion HK dollars (8.57
billion U.S. dollars), from Friday's 58.06 billion HK dollars (7.50 billion U.S.
dollars).

The index traded between 16,334.36
and 17,062.49.

The gain seen in the afternoon session was attributed
to strength in property companies and Mainland's stock market, according to
analysts who expected the blue-chip index to consolidate in the near term after
the market's recent strong rally, though some said ample liquidity should lend
the market support.

Property firms led Monday's gains on a positive
outlook for the sector. New World Development advanced 6.9 percent to 12.76 HK
dollars, Sino Land jumped 4.1 percent to 11.30 HK dollars, and Henderson Land
was up 3.5 percent at 38.50 HK dollars.

JPMorgan Monday raised the Hang Seng Index 2009
year-end target to 19,800 from 16,600, and recommended investors to buy more
property stocks.

However, Credit Suisse downgraded Hong Kong's
property sector on Monday to Underweight from Market Weight, because a recent
strong run up in property stocks has not been matched by fundamental
improvements.

The benchmark Shanghai Composite Index, which tracks
both A and B shares, ended up 0.3 percent at 2,652.78, rebounding from an early
fall to 2,589.61, led by gains in coal and power companies, which supported the
Hong Kong market.

Hong Kong's H-share index, which tracks the Hong
Kong-listed shares of Mainland-registered firms, rose 1.9 percent to 9,792.24.

Hong Kong bourse operator Hong Kong Exchanges and
Clearing rose 5.8 percent to 109.70 HK dollars on strong turnover.

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Hong Kong stocks up 1.51% following Wall Street rally

HONG KONG, May 15 (Xinhua) -- Hong Kong stocks advanced 249.01 points, or
1.51 percent to close at 16,790.7 on Friday.

Boosted by overnight rally on Wall Street, the benchmark Hang Seng Index
opened higher in the morning and fluctuated in the positive territory throughout
the trading.

The bounce of Hong Kong stocks was believed to have mitigated losses in
previous sessions this week, when share prices tumbled after robust gains in
seven consecutive days.

The day high was 16,953.41 and the day low stood at 16,736.18.

Turnover shriveled to 58.06 billion HK dollars (7.50 billion U.S. dollars),
from Thursday's 63.65 billion HK dollars (8.22 billion U.S. dollars).

Index heavyweight HSBC outperformed by rising 3.1 percent to 64. 3 HK
dollars and the sole market operator HKEx was up 1.7 percent to 103.7 HK
dollars.

Hong Kong-listed Chinese financial companies all registered increase in
share prices. The country's biggest lender ICBC surged3.6 percent to 4.65 HK
dollars; China Construction Bank (CCB), which has been under close scrutinize
among investors after the Bank of America sold large numbers of CCB shares, rose
1.9 percent to 4.79 HK dollars. Insurer Ping An advanced 1.6 percent to 49.35 HK
dollars and its arch rival China Life was up 0.9 percent to 27.55 HK dollars.

Oil-related stocks were all higher, with Sinopec up 1.0 percent to 8.09 HK
dollars, CNOOC up 2.0 percent to 9.98 HK dollars and ChinaPetrol up 1.7 percent
to 6.1 HK dollars.

Local property stocks grabbed a fair share of Friday's market rally. Cheung
Kong, the business conglomerate headed by Hong Kong's richest man Li Ka-shing,
closed 1.4 percent higher at 83.15 HK dollars, while SHK Properties, the leading
residential developer in Hong Kong, gained 1.3 percent to 81.6 HK dollars.

Despite price rise in most blue chips, market observers believe downward
pressure still hangs over the market, citing falling investment figures in the
Chinese mainland and sharp deterioration of GDP in the first quarter in Hong
Kong.

China's Ministry of Commerce announced Friday that the amount of direct
foreign direct investment into China fell 21 percent year on year in the first
four months, signaling that a recovery isn't yet firmly in place in the world
third largest economy.

The Hong Kong SAR government said it would downgrade annual growth
estimation for 2009 as exports and unemployment continue to worsen in the Asian
financial hub. (7.743 HK dollars = 1 U.S. dollar)

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Hong Kong stocks close 3.04% lower

People walk past an index board
displayed in Hong Kong, China, May 14, 2009. Hong Kong stocks retreated
3.04 percent, or 517.93 points to close at 16,541.69 on
Thursday.(Xinhua/Wong Pun Keung)
Photo
Gallery

HONG KONG, May 14 (Xinhua) -- Hong Kong stocks retreated 3.04 percent, or 517.93 points to close at 16,541.69 on Thursday, tracking U.S. market falls overnight prompted by declining retail sales.

The benchmark Hang Seng Index opened 2.52 percent lower in the morning and soon dived as much as 3 percent, led by falls of heavyweights including the HSBC and China Mobile.

The index touched the day high of 16,630.33 before shedding more points to the day low of 16,422.28.

Turnover was 63.65 billion HK dollars (8.22 billion U.S. dollars).

The Hong Kong market tumble came after U.S. stocks plunged overnight over a weak-than-expected retail sale released by the U.S. Commerce Department.

Analysts said the 0.4-percent drop in retail sales in April in the world largest economy, which indicated that a recovery may not be "just around the corner," further dented market confidence.

Among the 42 constituents of the Hang Seng Index, only two stocks registered growth. Tencent, China's leading instant message service provider, rose 9.8 percent to 79.9 HK dollars after it reported a 94-percent rise in first quarter profit. Tencent touched the record of 82 HK dollars earlier during Thursday's trading.

Another gainer is China Unicom, up 0.23 percent to 8.85 HK dollars.

HSBC contributed to market tumble by decreasing 4.2 percent to 62.35 HK dollars and ChinaMobile lost 4.2 percent to 73.15 HK dollars after resuming trading. The sole market operator HKEx plunged 7.1 percent to 102 HK dollars as more financial institutions turned downbeat about its earning prospects.

Profit-taking in oil-related stocks pushed the sector lower, with Sinopec down 4.6 percent to 8.01 HK dollars, PetrolChina down4.2 percent to 6 HK dollars and CNOOC shedding 4.3 percent to 9.78HK dollars.

Shares of Hong Kong-listed Chinese banks suffered loss of different degrees. China Construction Bank fell 1.9 percent to 4.7HK dollars, ICBC down 2.4 percent to 4.49 HK dollars and the Bank of China down 2.1 percent to 2.85 HK dollars. (7.742 HK dollars is equivalent to 1 U.S. dollar)

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HKEx Q1 profit down 49%

HONG KONG, May 13 (Xinhua) -- Hong Kong Exchanges and Clearing saw a 49
percent year-on-year drop in the profit attributable to shareholders in the
first quarter of this year, to 834.2 million HK dollars (107.75 million U.S.
dollars), the only stock market operator in Hong Kong announced on Wednesday.

According to first quarter results, HKEx recorded income of 1.34 billion HK
dollars (173.08 million U.S. dollars), down 41 percent on a year earlier, while
operating expenses fell 7 percent to 354.4 million HK dollars (45.78 million
U.S. dollars). The profit attributable to shareholders was 834.2 million HK
dollars, with basic earnings per share at 78 cents.

The average daily turnover value on the Stock Exchange was 44.7 billion HK
dollars, 55 percent lower than the same period last year. The average daily
number of derivatives contracts traded on the Futures Exchange and stock options
contracts traded on the Stock Exchange also dropped 5 percent and 27 percent to
195,499 and 194,279.

HKEx Chairman Ronald Arculli said the persistence of negative market
sentiment had a significant impact on both the primary and secondary markets in
the first quarter.

The plunge in global consumption was magnified by worsening unemployment
and tighter credit conditions which caused aggressive business retrenchment in
most economies.

"Despite the difficulties ahead, HKEx continues to work hard to ensure it
operates a quality market built on a solid financial infrastructure with sound
products and services to bolster confidence in our marketplace."

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Hong Kong close 1.74% lower on profit-taking

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HONG KONG, May 11 (Xinhua) -- Hong Kong stocks shed 301.92 points, or 1.74
percent to close at 17,087.95 at the end of Monday trading, as investors rushed
to take profit gained during the seven-day rally starting on April 30.

The benchmark Hang Seng Index opened slightly lower at 17,381 and advanced
to the day high of 17,685.64 before moving downward to the day low of 17,032.44.
The market retrieved some ground upon closing.

Market turnover expanded to 92.13 billion HK dollars (11.90 billion U.S.
dollars), from Friday's 86.77 billion HK dollars (11.21 billion U.S. dollars).

Analysts say the market could face further consolidation as economic
fundamentals are not good enough to support the current market level.

Aside from profit-taking, the Hong Kong market was thought to be dragged
down by China's mainland bourses, which moved into negative territory after days
of considerable gains.

The Chinese government said the country's main inflation index fell 1.5
percent year-on-year in April, a result much better than anticipated.

However, the good news seemed unable to lend any momentum to the retreating
stock market, with the Shanghai Composite down 1.8 percent and the Shenzhen
Component Index down 3.09 percent.

Heavyweight HSBC gained 0.3 percent to 66.1 HK dollars, among other
constituents that defied the down trend.

China Mobile dropped 1.2 percent to 75.3 HK dollars and another telecom
service provider China Unicom rose 0.11 percent to 9.25 HK dollars.

Shoe maker Yue Yuen plunged 7.2 percent to 16.07 HK dollars after news that
the company would be kicked out of the Hang Seng Index and replaced by
electricity producer China Resources Power Holdings on June 8.

Financial stocks fell cross the board. China's biggest lender ICBC slid 1.9
percent to 4.71 HK dollars, Bank of China lost 2.37 percent to 2.88 HK dollars
and Bank of Construction fell 6.7 percent on concerns Bank of America will sell
shares in the company.

The property sector was also down. Henderson Land 5.2 percent to 37.6 HK
dollars, Cheung Kong down 1.8 percent and New World Development down 2.1.

Utilities stocks failed to buckle the market fall, with HK Electric down
0.71 percent and MTR Corporation down 5.37 percent. (7.7420 HK dollars = 1 US
dollar)

HK stocks rise for 6th straight day

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HONG KONG, May 7 (Xinhua) -- Gains in HSBC, China Construction Bank and
other lenders more than offset profit-taking in property developers to lead Hong
Kong shares to their sixth consecutive higher close Thursday.

The benchmark Hang Seng Index rose 383.32 points, or 2.3 percent, to
17,217.89, a seven-month closing high. It traded between 16,880 and 17,327.52
during the session.

Turnover rose to 95.21 billion HK dollars (12.30 billion U.S. dollars) from
Wednesday's 80.40 billion HK dollars (10.39 billion U.S. dollars).

Traders said the market's upward momentum remains strong, but many expect a
pullback soon because it appears to be overbought.

Index heavyweight HSBC gained 5.6 percent to 65.05 HK dollars, as investors
don't expect any bad news from the U.S. stress test results.

Bank of East Asia surged 10.4 percent to 24.90 HK dollars.

China Construction Bank rose 5.1 percent to 4.99 HK dollars after Ming Pao
Daily reported China Investment Corp., China's 200 billion U.S. dollars
sovereign-wealth fund, has agreed to buy most of the shares likely to be sold by
Bank of America.

Hong Kong dry bulk shippers jumped after the Baltic Dry Index rose 8.9
percent to 2,065 Wednesday, its highest closing level since mid-March.

China Cosco jumped 7.4 percent to 8.38 HK dollars and Pacific Basin rose
3.6 percent to 4.83 HK dollars.

Bourse operator Hong Kong Exchanges and Clearing rose 6.5 percent to 112.90
HK dollars, spurred by abundant liquidity.

The property sub-index has risen 29 percent since Dec. 31 through
Thursday's close, outperforming a nearly 20 percent rally in the Hang Seng Index
over the same period.

Cheung Kong fell 1 percent to 87.70 HK dollars while Wharf dropped 3
percent to 27.95 HK dollars.

The finance sub-index went up 997.16 points or 4.05 percent to 25,640.04.

The properties sub-index fell 41.20 points or 0.19 percent at 21,862.69.

The commerce and industry sub-index went up 88.77 points or 0.95 percent to
9,398.65.

The utilities sub-index fell 573.56 points or 1.60 percent at 35,351.08.
(7.742 HK dollars = 1 U.S. dollar)

HK stocks rise for 7th straight day

HONG KONG, May 8 (Xinhua) -- Gains in Chinese banks more than offset drops in property developers Friday, pushing the Hong Kong market higher for a seventh consecutive session.

The benchmark Hang Seng Index rose 171.98 points, or 1.0 percent, to finish at 17,389.87 after it bounced back from a low of 16,970.20 in the morning session. It was the index's highest close since Oct. 3, when it settled at 17,682. It rose 12 percent over the past week.

Turnover fell to 86.77 billion HK dollars (11.21 billion U.S. dollars) from Thursday's 95.21 billion HK dollars (12.30 billion U. S. dollars).

Analysts said the recent rally seems to have been overdone amid abundant liquidity and optimism about a global economic recovery.

Hong Kong Monetary Authority Chief Executive Joseph Yam urged investors to remain cautious, saying recent rallies by stocks and other assets don't imply an improvement in Hong Kong's economic fundamentals. "The local economy remains difficult and is still contracting," Yam told reporters Friday. "I would advise investors to understand the situation and to manage your risks well."

China Construction Bank rose 5.2 percent to 5.25 HK dollars on reports China Investment Corp., Singapore's Temasek Holdings Pte. and Bank of China Ltd. may scoop up part of Bank of America Corp.'s 16.7 percent stake in the Chinese lender.

China Merchants Bank surged 8.1 percent to 17.02 HK dollars on speculation it will be picked later Friday to join the Hang Seng Index.

Shoe maker Yue Yuen, tipped to be taken out of the Hang Seng Index, dropped 1.3 percent to 17.26 HK dollars.

Hong Kong Exchanges and Clearing, the local bourse operator, jumped 4.8 percent to 118.30 HK dollars on strong turnover. The stock market operator is now up 37 percent since May 1, riding the market's rally.

Property developers fell following their recent advance, with Cheung Kong, Sun Hung Kai Properties and Henderson Land continuing to fall for the second consecutive day.

The finance sub-index went up 343.60 points or 1.34 percent to 25,983.64.

The properties sub-index fell 190.00 points or 0.87 percent at 21,672.69.

The commerce and industry sub-index went up 107.44 points or 1.14 percent to 9,506.09.

The utilities sub-index fell 66.60 points or 0.19 percent at 35,284.48. (7.742 HK dollars = 1 U.S. dollar)

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Hong Kong stocks surge 5.54%

HONG KONG, May 4 (Xinhua) -- Hong Kong stocks surged 860.06 points, or 5.54 percent, to close at 16,381.05 on Monday.

The benchmark index opened at 15,869.28 and fluctuated between 16,387.12 and 15,855.24 during the session.

Turnover rose to 80.33 billion HK dollars (10.38 billion U.S. dollars) from Thursday's 70.91 billion HK dollars (9.16 billion U.S. dollars).

HK stocks close higher on China rebound hopes

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HONG KONG, April 15 (Xinhua) -- Hopes of an economic rebound in China drove Hong Kong stocks slightly higher for the third straight session Wednesday.

The benchmark Hang Seng Index closed up 89.46 points, or 0.57 pct at 15,669.62 after trading between 15,213.39 and 15,669.85 during the session and spending most of the day in negative territory.

Turnover fell to 66.26 billion HK dollars (about 8.56 billion U. S. dollars) from Tuesday's 75.42 billion HK dollars (about 9.74billion U.S. dollars).

Wall Street shifted into reverse overnight after the U.S. government reported a 1.1 slump in retail sales in March, an unexpectedly poor result that rattled hopes that the worst of the recession had passed.

But signs of recovery in China's economy drove Hong Kong stocks a positive session as China's Ministry of Commerce spokesman Yao Jian said Wednesday that actual foreign direct investment in China came to 8.4 billion U.S. dollars in March.

Though the figure was down 9.5 pct from a year earlier, it was the highest monthly level since June last year.

China Mobile jumped 4.8 pct to 73.15 HK dollars, contributing 74.58 points of the HSI's rise.

Citic Pacific rose 3.2 pct to 12.78 HK dollars, extending its 28.7 pct gain over the last two sessions.

Sinopec rose 2.74 pct, or 0.16 pct to 5.99 HK dollars and China Mining moved up 2.74 pct, or 0.16 HK dollars, to 5.99.

Bank of China dropped 1.02 pct, or 0.03 to 2.92 HK dollars and ICBC lowered 0.89 pct, or 0.04, to 4.45 HK dollars.

HK stocks finish 4.55% higher, turnover surges

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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
Gallery

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.

HK firm agrees to buy back Lehman Brothers minibonds

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HONG KONG, April 5 (Xinhua) -- A financial services company in Hong Kong
said on Sunday that it has agreed to buy back all Lehman Brothers minibonds it
sold to investors at their original price.

The buy-back involves only five clients, and the total amount of the
repurchase is an estimated 1.6 million HK dollars.

This is the second firm to volunteer to buy back the minibonds at their
original price. Sun Hung Kai Financial had made a similar offer to its clients
in January.