Hong Kong share prices end 0.37 pct higher

Hong Kong share prices on Tuesday opened low but rebounded around 15,800-point level during trading before closing at 15,864.56 following Monday's biggest single-day fall in the past five years.

Some buyers chose to purchase their target shares at low prices after the stocks tumbled on Monday due to fragile market sentiment, profit-taking moves and bearish performance in Asian stocks, thus lifting the blue-chip Hang Seng Index by 59.04 points, or 0.37 percent to 15,864.56 on Tuesday .

The bourse opened low at 15,747.40 and tested the market strength at around 15,800-point level with trading fluctuating between 15,691.13 and 15,888.48 with a heavier turnover of 41.41 billion Hong Kong dollars (5.35 billion U.S. dollars).

Two of the four sub-indices picked up a little bit from Monday's sharp fall with the Commerce and Industry rising the most, or 0. 51 percent, to 7,646.56 and the Finance moving up 0.40 percent to 28,407.56.

The Properties remained unchanged at 19,468.71.

The Utilities lost ground but narrowed its downwards scale by 0. 19 percent to 31,727.44.

The overall market was lifted by market heavyweights like HSBC and China Mobile.

HSBC, the largest stock of Hong Kong bourse measured by market capitalization, went up 0.45 percent, to 134.4 HK dollars.

China Mobile, the country's largest mobile phone operator, also rose 1.86 percent to 41 HK dollars.

Hutchinson climbed 0.14 percent to 70.9 HK dollars.

Cheung Kong rose 0.12 percent to 81.6 HK dollars

China Life continued to lose 2.12 percent, to 11.55 HK dollars.

The H-shares, composed by listed companies from the Chinese mainland, also rebounded 5.66 percent to close at 6,691.35.

The telecommunications companies all lost ground, with China Mobile falling 5.63 percent to 40.25 HK dollars, China Telecom losing 3.81 percent to 2.53 HK dollars.

Resources sectors posted a much better performance compared to the entire market with Sinopec rebounding 4.97 percent to 4.75 HK dollars, PetroChina gaining 1.81 percent to 8.45 HK dollars and CNOOC edging up 0.86 percent to 5.9 HK dollars.

Metal sectors also rose with the entire market with Jiangxi Copper moving up 9.1 percent to 7.2 HK dollars, China Aluminium rising 5.1 percent to 6.2 HK dollars.

Banks from the Chinese mainland posted a mixed performance. Bank of Communications recovering 1.02 percent to 4.95 HK dollars, but China Construction Bank continued to fall 0.74 percent to 3.35 HK dollars and Bank of China (Hong Kong), dipped 0.65 percent to 15.25 HK dollars.

Source: Xinhua