Hong Kong stocks close 1.47% higher

Hong Kong stocks ended 1.47 percent higher on Wednesday, with the benchmark Hang Seng index rising 322.81 points to end at 22,285.79 points, after trading between 22,010.56 and 22,308.25. Turnover totaled 75.98 billion HK dollars (about 9.797 billion U.S. dollars). The Hang Seng China Enterprises Index rose 139.91 points, or 1. 42 percent, to close at 9,996.76. Four sub-indices all gained ground, with the Properties sub- index rising the most by 2.98 percent, followed by the Finance 1. 44 percent, the Commerce and Industry 1.23 percent and the Utility 0.89 percent. Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, closed 1.6 percent higher at 81.00 HK dollars, while its local unit Hang Seng Bank closed up 1.0 percent at 121. 30 HK dollars. Bank of East Asia, another Hong Kong's major bank, was up 1.9 percent at 29.85 HK dollars. Local bourse operator HKEX gained 0.5 percent to 124.00 HK dollars. Local developers Hang Lung Properties climbed 1.6 percent at 22. 40 HK dollars. Henderson Land, another major developer in Hong Kong, went up 3.1 percent to 42.70 HK dollars, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, was up 2.0 percent to 116.60 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, jumped 1.7 percent to 5. 43 HK dollars. ICBC, the world's largest bank by market value, advanced 1.5 percent at 4.82 HK dollars. Bank of China increased 1. 5 percent to 3.30 HK dollars. Bank of Communications, China's fifth biggest lender measured by assets, went up 1.4 percent to 5. 09 HK dollars. PetroChina, the country's largest oil and gas producer, was up 2.1 percent at 7.94 HK dollars. (1 U.S. dollar equals 7.761 HK dollars)