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Hong Kong shares close up 1.2 pct, rebound from 1-month low
HONG KONG |
HONG KONG Nov 14 (Reuters) - Hong Kong shares rebounded from a one-month low on Wednesday, buoyed by strong gains for metal producers after Chinese state media confirmed a Reuters report that Beijing had resumed stockpiling metals in a move seen as supporting physical prices.
The Hang Seng Index closed up 1.2 percent at 21,442 points, rebounding from a one-month low hit on Tuesday. The China Enterprises Index of the top Chinese listings finished up 1.7 percent.
In the mainland, the CSI300 Index of the top Shanghai and Shenzhen listings gained 0.5 percent, while the Shanghai Composite Index rose 0.4 percent. Both indices had closed on Tuesday at their lowest since late September.
* Aluminum Corporation of China (Chalco), the country's largest aluminum producer, rose 2.8 percent after tumbling 8.5 percent between Nov. 7 and Tuesday.
Reuters had first reported earlier this week that China's State Reserves Bureau has issued tenders to buy 160,000 tonnes of primary aluminium and 150,000 tonnes of zinc ingots from local smelters. On Wednesday, sources told Reuters that these tenders have been delayed to Thursday.
* Tencent Holdings slipped 0.9 percent in Hong Kong, partly coming under pressure after sector rival Nasdaq-listed Baidu dived nearly 6 percent overnight. The Chinese Internet giant is expected to post third-quarter corporate earnings after the market close.
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