Hong Kong shares produce solid rise

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Hong Kong - Hong Kong shares posted their biggest gain in more than two weeks on Thursday, as investors bought Chinese utilities and energy stocks on hopes a coming annual parliamentary session will make reforms boosting them.

The Hang Seng Index finished up 1.7 percent at 22,828.2 points in its largest one-day gain since February 11.

The China Enterprises Index of the leading offshore Chinese listings in Hong Kong climbed 1.5 percent.

Sinopec jumped 5.3 percent to a three-month high after Goldman Sachs put its H-shares on a conviction buy list.

China Business News on Wednesday quoted Sinopec chairman Fu Chengyu as saying more specific reform plans will be announced in March during the National People's Congress.

Chinese property developers, which had some respite on Wednesday after a bad patch, underperformed on Thursday even though the official Xinhua news agency reported that China's eight major lenders had not tightened or halted property-related lending. - Reuters

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