Hong Kong shares gain 2.5 per cent on optimism for December
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Fri, 28 Nov 2008 09:42:25 GMT |
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Hong Kong - Hong Kong shares rose for the fourth consecutive day Thursday, gaining 2.5 per cent, on optimism that the worst may be over. The blue-chip Hang Seng Index closed 336 points up at 13,888 points and ending the week 9.2 per cent higher than it started. Turnover was 42.3 billion Hong Kong dollars (5.4 billion US dollars). Analysts attributed the gains to optimism that December may be a better month following the announcement of another US bailout plan to boost consumer spending. The rally was also influenced by rate cuts announced by Beijing. Global banking giant HSBC Holdings closed 2.5 per cent higher at 83.7 Hong Kong dollars, while the Bank of China gained 4.26 per cent to close at 2.45 dollars. Sun Hung Kai Properties gained 6.7 per cent to close at 61.35 Hong Kong dollars and telecomms blue-chip Hutchison gained 5.71 per cent to end the week at 5.15 dollars.
Copyright DPA
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