Hong Kong shares rise 0.4 pct, resurgent China markets chased
HONG KONG |
HONG KONG Dec 27 (Reuters) - Hong Kong shares rose in holiday-thinned Thursday trade, led by Chinese growth-sensitive counters as investors caught up on the strong gains mainland markets had during the 2-1/2 day break for Christmas.
The Hang Seng Index ended up 0.4 percent at 22,619.8. The China Enterprises Index of the top Chinese listings in Hong Kong rose 0.7 percent.
In the mainland, the CSI300 of the top Shanghai and Shenzhen listings closed down 0.5 percent at 2,444.6. The Shanghai Composite Index shed 0.6 percent.
* Chinese financials and most growth-sensitive sectors led Hong Kong higher as investors chased strong A-shares gains that elevated both the CSI300 and Shanghai Composite Index on Tuesday atop their 200-day moving average, a chart level that both have struggled to stay above for more than two weeks since May 2011.
* China railway counters extended strong gains on the year after the official China Securities Journal reported that the country's National Development and Reform Commission said that the domestic railway investment could hit 1.8 trillion yuan ($289 billion) during 2013 to 2015. The amount for next year could be between 600 billion yuan and 650 billion yuan.
* China Rongsheng Heavy Industries Group tumbled 7.4 percent after it warned of an annual net loss for 2012 on sharp declines in orders and prices of new vessels due to the shipping industry's downward turn.
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