Hong Kong stocks extended gains on Tuesday, with the weighted index closing up 218.39 points, or 1.21 percent, at 18,256.20.

The benchmark Hang Seng Index (HSI) opened up 187.29 points at 18,225.10 after gains in the US market overnight and reached as high as 18,372.45 in the day's trading session. Turnover rose to 55.01 billion HK dollars from 41.16 billion HK dollars.

All four sub-indices gained ground but the Utility sub-index dropped 0.52 percent.

Analysts said they expect the HSI to trade in the range of 17,700-18,700 over the next two weeks, with the upside limited by the uncertainties of the economic condition in Europe.

They said positive retail news in the U.S., where sales on Black Friday, the day after Thanksgiving, rose 6.6 percent from a year ago, drove the day's rally.

Ports and retail stocks ended higher. Ports investor Cosco Pacific surged 7.8 percent to 9.18 HK dollars and container terminal operator China Merchants Holdings rose 3.0 percent to 22.40 HK dollars.

Footwear maker Belle soared 9 percent and fashion label Esprit surged nearly 5 percent. Jewelry company Luk Fook jumped over 6 percent on record earnings.

Heavyweight HSBC increased 2.7 percent to 58.65 HK dollars, while China Mobile gave up 0.07 percent to 74.65 HK dollars.

Chinese mainland lender all closed up. Bank of Communication advanced over 2 percent to 5 HK dollars. CCB moved up 0.6 percent to 5.3 HK dollars. ICBC added 2.3 percent to 4.41 HK dollars. Bank of China gained 1.2 percent to close at 2.45 HK dollars. (1 U.S. dollar = 7.795 HK dollars)

Source:xinhuanet