Hong Kong stocks close at 30-month high

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Last updated at: (Beijing Time) Monday, January 05, 2004

Hong Kong stocks close at 30-month high

Hong Kong stocks closed at a 30-month high Monday, with the benchmark Hang Seng Index moving up 203.85 points, or 1.6 percent, to 13,005.33.

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Hong Kong stocks closed at a 30-month high Monday, with the benchmark Hang Seng Index moving up 203.85 points, or 1.6 percent, to 13,005.33.

The market turnover stood at 26.92 billion Hong Kong dollars (3.45 billion US dollars).

Dealers said investors were optimistic about the economic prospects for Hong Kong in 2004.

The gain was mainly boosted by gains in the real estate sector as there were expectations that the Hong Kong government will announce measures shortly to boost the local property market, they said.

In the real estate sector, Sun Hung Kai Properties rose 4.00 hkd to 70.25 hkd, and Cheung Kong Holdings rose 3.25 hkd to 66.00 hkd.

Among banking stocks, HSBC Holdings rose 50 cents to 124.50 hkd, and Hang Seng Bank was steady at 102.50 hkd.

Elsewhere, China Mobile rose 55 cents to 24.95 hkd, and China Unicom rose 30 cents to 7.80 hkd.

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