HK stocks end 1.39% higher

Hong Kong stocks rose 296.08 points, or 1.39 percent, to close at 21,524.36 on Wednesday. The benchmark Hang Seng Index traded between 21,530.44 and 21,229.14. Turnover totaled 52.37 billion HK dollars (about 6.76 billion U.S. dollars), up from Tuesday's 48.52 billion HK dollars. The Hang Seng China Enterprises Index rose 170.49 points, or 1.67 percent, to close at 10,397.73. All four sub-indices gained ground, with the Finance sub-index rising the most by 1.74 percent, followed by the Commerce and Industry 1.29 percent, the Properties 0.84 percent, the Utility 0. 22 percent. Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, closed 1.27 percent higher at 76 HK dollars. Its local unit Hang Seng Bank gained 1.14 percent at 115.60 HK dollars. Bank of East Asia, another Hong Kong's major bank, ended up 0.69 percent to 29.05 HK dollars. Local bourse operator HKEX surged 2.28 percent to 125.70 HK dollars. Local developers Hang Lung Properties edged up 0.19 percent to 26.60 HK dollars. Henderson Land, another major developer in Hong Kong, rose 0.47 percent to 52.90 HK dollars, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, grew 0.44 percent to 113.70 HK dollars. As for mainland-based financial stocks, China Construction Bank, the country's second largest bank which accounts for the third largest weighting of the Hang Seng Index, rocketed 3.36 percent at 5.84 HK dollars. ICBC, the world's largest bank by market value, jumped 1.78 percent at 5.15 HK dollars. Bank of China closed up 1. 6 percent at 3.18 HK dollars. Bank of Communications, China's fifth biggest lender measured by assets, rose 2.97 percent to 5.54 HK dollars. As for energy stocks, China's top refiner Sinopec soared 2.14 percent at 8.13 HK dollars. PetroChina, the country's largest oil and gas producer, went up 0.2 percent to 10.18 HK dollars. CNOOC moved up 0.37 percent at 16.28 HK dollars. (1 U.S. dollar equals 7. 751 HK dollars)