HK share prices climb above 19,500 level again by adding 0.82 pct

Share prices on Hong Kong Stock Exchange gained for three consecutive days by adding 0.82 percent to stand above the 19,500-point level on Wednesday after a dramatic roller coaster performance.

The benchmark Hang Seng Index opened higher at 19,380.98 but headed downwards during the morning session and fell 0.18 percent, to close at 19,322 at midday. Investors united their strength in the afternoon to buy in blue-chip HSBC, China Mobile and Housing developers and pushed up the entire market by 159.51 points, or 0.82 percent to close Wednesday's trading at 19,516.41.

Market turnover increased to 46.818 billion HK dollars (6 billion U.S. dollars) from Tuesday's 39.607 billion HK dollars (5.07 billion U.S. dollars).

All four sub-indices were buoyed. The Properties led the gains by rising 1.56 percent to 22,960.36. The Commerce and Industry surged 1.21 percent to 10,664.63. The Utilities advanced 0.88 percent to 35,001.83. The Finance went up 0.18 percent to 30,629.95.

China Agri-Industries made a dazzling debut by moving 48.7 percent higher than its offering price to 5.53 HK dollars after once hit an intra-day high at 5.95 HK dollars in the morning.

Ex-dividend HSBC, the largest stock measured by market capitalization in Hong Kong, rose 1.52 percent to 134.2 HK dollars.

Another market heavyweight China Mobile, or the country's largest mobile phone operator, remained the market major drive force by advancing 1.17 percent to 73.65 HK dollars. It will post its earning results after trading closes.

China Netcom soared 3.21 percent to 18 HK dollars. China Unicom was up 0.41 percent to 9.86 HK dollars. China Telecom moved up 0.83 percent to 3.63 HK dollars.

Most property counters strengthened. Hutchison surged 3.07 percent to 75.45 HK dollars. Hang Lung Property surged 2.85 percent to 21.65 HK dollars. Cheung Kong soared 2.27 percent to 94.55 HK dollars ahead of its earnings report on Thursday. Henderson Land advanced 1.88 percent to 43.35 HK dollars. Sino Land increased 0.62 percent to 16.28 HK dollars. SHK Property inched up 0.45 percent to 88.45 HK dollars.

New World Development was the only housing developer that fell by losing 1.16 percent to 17 HK dollars.

China stocks were also higher, with H-share index ending up 0.63 percent to 9,307.16.

China's banking and insurance sectors were stronger. ICBC, China's largest lender, rose 0.93 percent to 4.34 HK dollars. China Construction Bank rose 1.14 percent to 4.45 HK dollars. Bank of China picked up 0.52 percent to 3.88 HK dollars. China Merchants Bank added 0.64 percent to 15.8 HK dollars. Bank of Communications added 0.64 percent to 7.88 HK dollars. China Life, the country's largest life insurer, inched up 0.68 percent to 22.05 HK dollars ahead of its release of the annual earnings results.PICC put on 0.92 percent to 4.41 HK dollars.

Ping An dipped 0.28 percent to 35.55 HK dollars.

Oil sectors were mixed. PetroChina, the country's largest oil producer, lost 0.46 percent to 8.57 HK dollars after its earnings fell short of market expectation on Tuesday. Sinopec lifted 2.02

percent 6.07 HK dollars. CNOOC, China's largest offshore oil producer, added 0.16 percent to 6.34 HK dollars.

Source: Xinhua