HK Stocks Supported by Select Blue Chip Gains to Close Higher

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Last updated at: (Beijing Time) Tuesday, October 08, 2002

HK Stocks Supported by Select Blue Chip Gains to Close Higher

Hong Kong stocks ended slightly higher Tuesday, with the Hang Seng index up 46.01 points, or 0.52 percent, at 8,977.41.

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Hong Kong stocks ended slightly higher Tuesday, with the Hang Seng index up 46.01 points, or 0.52 percent, at 8,977.41.

The market turnover stood at 4.963 billion HK dollars (636 million US dollars).

Dealers said share prices closed higher in thin trade, supported by modest gains in HSBC, China Mobile and select property stocks, although sentiment remains cautious.

The uncertain issues, including a possible outbreak of a US-ledwar against Iraq and the latest developments of the US West Coast port dispute will continue to affect market sentiment, they said.

HSBC was up 1.00 hkd at 79.75 on a technical rebound, while BOCHong Kong was down 0.05 at 7.55 and Hang Seng Bank 1.00 higher at 82.75.

In the telecommunications sector, China Mobile was up 0.15 at 18.80, Hutchison Whampoa up 0.30 at 42.40, while China Unicom was down 0.05 at 4.45 and PCCW was down 0.03 at 0.96, extending recentfalls amid concerns the company may be dropped as a Hang Seng Index constituent.

In the property sector, Sun Hung Kai was up 0.60 at 46.70, Wharf up 0.50 at 14.90 and Cheung Kong up 0.38 at 46.20.

The China Enterprises index was up 0.70 points at 1,785.33, theCAC index up 2.36 points at 988.82 while the GEM index was down 0.71 points at 107.69.

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