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Hong Kong shares end up 1 pct, first gain in 4 days

Source : REUTERS
Last Updated: Fri, Nov 30, 2012 18:41 hrs

HONG KONG, Nov 29 (Reuters) - Hong Kong shares posted their first rise in four days on Thursday after a prominent U.S. lawmaker raised hopes of a deal to resolve the U.S. fiscal policy standoff, but gains came in weak turnover, pointing to underlying market fragility.

The Hang Seng Index closed up 1 percent at 21,922.9 points. The China Enterprises Index of the top Chinese listings in Hong Kong ended up 0.9 percent at 10,488.1.

On the mainland, the CSI300 Index of the top Shanghai and Shenzhen listings shed 0.6 percent, while the Shanghai Composite Index fell 0.5 percent, lingering at its lowest closing levels since January 2009.

HIGHLIGHTS:

* Chinese banks were among the biggest movers in the Hang Seng Index, recovering some losses made earlier in the week. China Construction Bank rose 1.9 percent, while Industrial and Commercial Bank of China gained 0.8 percent.

* Chinese automaker Geely Automobile declined 1.1 percent to HK$3.54 after Goldman Sachs Principal Investment Area launched an up to $262 million selldown in an indicative range of HK$3.30 to HK$3.40 each.

* Citic Securities ended down 2.8 percent, tracking losses in mainland markets after local media reported that brokerages could be hurt by possible cuts in commission fees.




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