Hong Kong stocks surged 3.12 percent Friday as Greece may advert a debt default and the European Central Bank decided unexpectedly to cut its interest rate.
The benchmark Hang Seng Index gained 600.29 points, or 3.12 percent, at 19,842.79 during the trading session. It traded between 19,981.52 and 19,773.31. Turnover totaled 73.44 billion HK dollars (about 9.46 billion U.S. dollars).
The Hang Seng China Enterprises Index gained 410.56 points, or 3.99 percent, to close at 10,705.48.
All four sub-indices gained ground, with the Properties rising the most by 3.46 percent, followed by the Finance 3.27 percent, the Commerce and Industry 3.12 percent, and the Utility 1.37 percent
All banks ended higher during the trading day, with ICBC gained 3.32 percent to 4.98 HK dollars. CCB rose 1.57 percent to 5.82 HK dollars and Bank of China gained 2.22 percent to close at 2.76 HK dollars. China Life, the third largest insurer in China, climbed 7.33 percent to 22.7 HK dollars.
Heavyweight HSBC gained 3.2 percent to 67.6 HK dollars. Hang Seng Bank ended 1.49 percent higher to 99.05 HK dollars. The local bourse operator HK Ex ended 135.7 HK dollars with a gain of 3.83 percent.
All Properties constituents gained ground. Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka- shing, rose 2.5 percent to 94.3 HK dollars. China Overseas surged 5.19 percent to 15 HK dollars. SHK PPT rose 3.48 percent to 107.2 HK dollars and Hang Lung Prop ended 27.8 HK dollars with a gain of 3.54 percent.
As for oil shares, the HK listed unit of China's National Offshore Oil Corporation, CNOOC, moved up 5.1 percent to 15.26 HK dollars. The country's largest oil and gas producer PetroChina rose 3.93 percent to 10.04 HK dollars. China's top refiner Sinopec gained 8.35 percent to 7.92 HK dollars, becoming the best performing blue chip during the trading session.
Hengan Int'l was the only constituents that lost ground of the day, with its shares moved down 1.44 percent to close at 68.25 HK dollars. (1 U.S. dollar = 7.767 HK dollars)
Source:xinhuanet