Hong Kong stocks fluctuated above 20,000 level on Wednesday with the benchmark Hang Seng Index advancing 1.04 percent to close at 20,209.71, ending this week's trading before Chinese traditional Qingming Festival and the Easter Day holidays.

Encouraged by the global stock markets, the blue-chip Hang Seng Index rose 184.97 points, or 0.92 percent, to open at 20,187.67 before closing 207.01 points, or 1.04 percent, at 20,209.71, the best close in one month.

Turnover rebounded for the first time in the week to 51.68 billion HK dollars (6.62 billion U.S. dollars from Tuesday's 40.01 billion HK dollars (5.13 billion U.S. dollars

All blue chips but PCCW and ICBC, China's largest lender, rose.

HSBC, the largest stock in Hong Kong measured by market capitalization, edged up 0.15 percent to 137.1 HK dollars.

Another market heavyweight China Mobile, or the country's largest mobile phone operator, gained 0.6 percent to 71.35 HK dollars.

ICBC lost 2 percent to 4.31 HK dollars after it reported only 31.2 percent rise of its net profits to 492.6 billion yuan (about 63.7 billion U.S. dollars), less than market expectation.

PCCW dipped 0.4 percent to 4.71 HK dollars.

China Merchants and China Resource were two shining blue-chips, skyrocketing 12 percent and 11 percent to 37.45 HK dollars and 29. 75 HK dollars respectively.

Property shares were higher. Cheung Kong, Hong Kong's largest house developer, continued to gain 2.3 percent to 104.8 HK dollars amid reports of its chairman, Tycoon Li Ka Shing, increased his stakes of the company.

Sino Land surged 3 percent to 18.02 HK dollars. Hang Lung jumped 3.6 percent to 23.05 HK dollars. Henderson Land advanced 2. 8 percent to 47.35 HK dollars.

China stocks were higher, with H-share index ending up 135.23 points, or 1.39 percent, to 9,859.5.

Source: Xinhua