Hong Kong shares close up 0.7 pct, second-best week this yr
HONG KONG, April 26
HONG KONG, April 26 (Reuters) - Hong Kong shares rose to their highest since mid-March on Friday as a recovery in physical commodity prices helped magnify earnings-driven strength in Chinese financial and energy majors.
The Hang Seng Index ended up 0.7 percent at 22,547.7, its highest close since March 14. The China Enterprises Index of the top Chinese listings in Hong Kong rose 0.6 percent. For the week, they rose 2.4 and 2.3 percent, respectively - their best since the week ending Jan. 6.
The CSI300 of the leading Shanghai and Shenzhen A-share listings closed at 2,447.3, down 0.8 percent on the day and 1.9 percent on the month. The Shanghai Composite Index shed 1 percent on Friday and 2.6 percent in April.
* Quarterly corporate earnings reports drove some of the more significant moves on the day. Warren Buffet-backed Chinese auto maker BYD Co Ltd surged 12.2 percent in its best day in 17 months after forecasting a surge in first half profit.
* China Southern Airlines dived 4 percent after its quarterly net profit slumped a worse-than-expected 82 percent.
* China Life Insurance rose 1.5 percent following a 79 percent increase in first quarter net profit, boosted by an increase in investment yield.
- Tweet this
- Share this
- Digg this
- Ukraine forces kill up to five rebels, Russia starts drill near border |
- Jodie Foster marries girlfriend Alexandra Hedison
- Boy and girl on Korean ferry drowned with life jackets tied together |
- Barclays chairman defends staff bonuses as Standard Life leads shareholder protests
- Australia rules out link between debris and Malaysian plane