Hong Kong shares nudge up

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HongKong111

Beijing - Hong Kong shares finished slightly higher on Thursday in the lowest trading volume since mid-February, as investors geared up for the Easter holiday.

The Hang Seng Index closed up 0.3 percent at 22,760.24 and down 1.1 percent on the week.

The China Enterprises Index of the leading offshore Chinese listings in Hong Kong was up 0.4 percent.

Market turnover for the key index was HK$1.04 billion ($134.12 million).

Telecommunications conglomerate PCCW gained 2.3 percent, after the company said it raised over HK$50 million ($6.45 million) from sales of more than 9 million shares in its subsidiary Pacific Century Premium Development.

But Citic Pacific shares fell 3.1 percent after details emerged on Wednesday night about the firm's agreement to buy the main operating unit of its parent, state-backed CITIC Group, for $36.5 billion in a stock and cash deal.

The stock previously jumped 30 percent when CITIC Group Corp injected prime operating assets into the Hong Kong-listed firm at the end of March.

The Hong Kong stock exchange will close for Good Friday on April 18 and Easter Monday on April 21. - Reuters


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