HK stocks up 0.52 pct with overseas rises

Hong Kong stocks went up 106.34 points, or 0.52 percent to close Monday's trading at 20615.49, pushed by the rises of overseas markets, though the market believes interests rise expectation still poses threat to rally.

The Hang Seng index, opened by jumping 139.9 points to 20,649. 05 in the morning and keeping its pace with the overseas markets rally. But the speed of going up slowed down at midday and even slower in the afternoon with the gains shrinking to 106.34 points.

Turnover reduced to 55.91 billion HK dollars (7.16 billion U.S. dollars) from Friday's 69.11 billion HK dollars.

China telecommunication stocks performed well with the market's expectations on issuing 3G licenses. China Unicom outperformed its counterparts with 5.79 percent up to 11.7 HK dollars at the news of company restructuring, though the news is denied. While China Mobile, one of the heavy weights of Hong Kong market, went up 0.76 percent to 72.9 HK dollars. China Telecom went up 2.25 percent to 4.55 HK dollars.

Financial stocks were mixed, with HSBC, the other heavy weight, up 0.14 percent to 143.4 HK dollars, while Hang Seng Bank went down 0.09 percent to 106.5 HK dollars and Bank of China (Hong Kong) down 0.11 percent to 18.24 HK dollars.

Property sector went up at the news of land auction, with Henderson Land up 1.05 percent to 103.1 HK dollars, Sun Hung Kai Properties up 0.17 percent to 89.2 HK dollars.

Source: Xinhua