WebSify
Follow us on
Mail
Print

Hong Kong shares close up 0.7 pct, second-best week this yr

Source : REUTERS
Last Updated: Fri, Apr 26, 2013 08:10 hrs

HONG KONG, April 26 (Reuters) - Hong Kong shares rose to their highest since mid-March on Friday as a recovery in physical commodity prices helped magnify earnings-driven strength in Chinese financial and energy majors.

The Hang Seng Index ended up 0.7 percent at 22,547.7, its highest close since March 14. The China Enterprises Index of the top Chinese listings in Hong Kong rose 0.6 percent. For the week, they rose 2.4 and 2.3 percent, respectively - their best since the week ending Jan. 6.

The CSI300 of the leading Shanghai and Shenzhen A-share listings closed at 2,447.3, down 0.8 percent on the day and 1.9 percent on the month. The Shanghai Composite Index shed 1 percent on Friday and 2.6 percent in April.

HIGHLIGHTS:

* Quarterly corporate earnings reports drove some of the more significant moves on the day. Warren Buffet-backed Chinese auto maker BYD Co Ltd surged 12.2 percent in its best day in 17 months after forecasting a surge in first half profit.

* China Southern Airlines dived 4 percent after its quarterly net profit slumped a worse-than-expected 82 percent.

* China Life Insurance rose 1.5 percent following a 79 percent increase in first quarter net profit, boosted by an increase in investment yield.




blog comments powered by Disqus
most popular on facebook
talking point on sify finance