Hong Kong shares rise for seventh day

Comment on this story
HongKong111

Hong Kong - Hong Kong's benchmark index climbed to fresh 3-1/2-year highs on Wednesday, with major property developers leading the rise as investors bet on a solid performance for first-half earnings.

The Hang Seng Index rose for the seventh straight day to end 0.4 percent up at 24,732.21 points.

It was last at these levels in November 2010.

The China Enterprises Index of the leading offshore Chinese listings in Hong Kong slipped 0.03 percent.

Hong Kong's property sub-index climbed to a 14-month high with Cheung Kong Holdings and Sun Hung Kai Properties leading the rise.

Cheung Kong, whose first-half results are due on Thursday, rose more than 3 percent to a record high before trimming gains to end 2.2 percent up.

Sun Hung Kai rose 3.2 percent to its highest close since March 2013.

Morgan Stanley this week revised up its forecasts for Hong Kong's home prices this year to a 5 percent gain from a 10 percent drop. - Reuters


sign up
 
 

Comment Guidelines



  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.