Hong Kong shares rallied to a record high for the third consecutive session as the blue-chip Hang Seng Index rose 276.18 points, or 1.4 percent, to close at 20, 001.91.

It is the first time the index has risen above the 20,000 point.

The bourse traded between a new all-time-high of 20,038.23 and a low of 19,686.81 with a turnover of 54.29 billion Hong Kong dollars (7 billion U.S. dollars).

The Hang Seng China Enterprises index was up 104.97 points or 1.02 percent at 10,363.28.

Bank of Communications was up 0.15 at 9.63 and Bank of China was up 0.07 at 4.15, while ICBC was down 0.06 at 4.92 and China Merchants Bank down 0.32 at 16.28.

China Construction Bank fell 0.01 at 5.05, reversing early gains.

China telecom stocks were mostly higher, with China Mobile up 1.95 at 67.95, China Telecom climbing 0.11 at 4.02 and China Unicom gaining 1.04 at 12.44.

China Netcom fell 3.95 at 21.5 after gaining about 31 percent Wednesday on rumors that it is negotiating to buy some assets of China Unicom assets.

HSBC gained 0.60 at 142.8 and Hutchison Whampoa was up 0.20 at 78.55.

Hang Seng Bank rose 0.20 at 106.10 and BOC Hong Kong gained 1.62 at 21.0.

Property stocks finished mostly higher, with sectoral sub-index rising 1.55 at 94.7. Cheung Kong gained 1.55 at 94.70 and Sun Hung Kai Properties rose 1.20 at 88.40.

Source: Xinhua