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Hong Kong shares close up 1.4 pct, China Mobile leads

Source : REUTERS
Last Updated: Wed, Nov 21, 2012 08:10 hrs

HONG KONG, Nov 21 (Reuters) - Hong Kong shares posted their best daily gain in more than two months on Wednesday, helped by a sharp intra-day rebound in mainland markets, with China Mobile providing the biggest boost to the Hang Seng Index.

The Hang Seng Index closed up 1.4 percent at 21,524.4, its best daily showing since Sept. 14. The China Enterprises Index of the top Chinese listings in Hong Kong climbed 1.7 percent.

In the mainland, the CSI300 Index of the top Shanghai and Shenzhen listings closed up 1.4 percent. The Shanghai Composite Index rose 1.1 percent after touching its lowest intra-day level since early 2009 in morning trade.

HIGHLIGHTS:

* Shares of China Mobile, the country's largest mobile operator and a popular defensive play, jumped 2.3 percent and was the top boost to the Hang Seng Index.

* Angang Steel soared 7.4 percent after saying it will sell its 45 percent stake in Tianjin Angang Tiantie Cold Rolled Sheets Co Ltd to the company's controlling stakeholder, Anshan Iron and Steel Group for 1.18 billion yuan ($189 million).

* China Resources Enterprises shed 2.1 percent after posting at midday a smaller-than-expected 27 percent increase in third-quarter net profit.




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