HSI Soars 247 pts; CN Financials, Energy Shrs Balloon
The Hong Kong bourse was buoyed by the sharp uptick of Chinese banks and oil stocks. $Hang Seng Index(800000.HK$ , which has once stretched its rise to 272 pts, closed at 20,297, elevating by 247 pts or 1.24%; $Hang Seng China Enterprises Index(800100.HK$ thrived 99 pts or 1.47% to close at 6,897; $Hang Seng TECH Index(800700.HK$ climbed 18 pts or 0.48% to close at 3,914. The full-day turnover totaled at $108 billion.
Chinese banks spearheaded a steep rally of the broader market as Chinese media reported that the Shanghai Stock Exchange is planning to convene a seminar on exploring investment values in SOEs and propelling the recovery of SOE valuations on Thursday. $ICBC(01398.HK$ and $BANK OF CHINA(03988.HK$ rose 3.7-4.6%. $BQD(03866.HK$ ascended 7.2%.
Energy and related stocks were likewise ebullient. $SINOPEC CORP(00386.HK$ , $CNOOC(00883.HK$ and $YANKUANG ENERGY(01171.HK$ swelled 5.8-6.7%. $PETROCHINA(00857.HK$ , $CHINA OILFIELD(02883.HK$ , $CHINA SHENHUA(01088.HK$ and $CHINA COAL(01898.HK$ surged 3.9-4.6%.
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