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Hong Kong shares close up 0.7 pct at highest since April 2011
January 30, 2013 / 8:11 AM / 5 years ago

Hong Kong shares close up 0.7 pct at highest since April 2011

HONG KONG, Jan 30 (Reuters) - Hong Kong shares climbed to their highest since April 2011 on Wednesday, helped by strength in China-related counters that pushed the Hang Seng Index above a chart level that had put a lid on gains for nearly two weeks.

The Hang Seng Index ended up 0.7 percent at 23,822.1 piints, its highest close since April 27, 2011. The China Enterprises Index of the top Chinese listings in Hong Kong rose 0.8 percent.

In the mainland, the CSI300 of the top Shanghai and Shenzhen A-share listings closed up 0.5 percent at 2,688.7, while the Shanghai Composite Index rose 1 percent.


* Wednesday’s gains helped the Hang Seng Index close above 23,708, the high on May 31, 2011, which has posed stiff technical resistance since mid-January.

* China Railway Construction jumped 3.9 percent after the official China Securities Journal reported the railway ministry plans to spend 117 billion yuan ($18.80 billion) to buy rail cars this year, up from 108.2 billion yuan in 2012.

* ZTE reversed mild midday losses to end up 1.7 percent after a senior ZTE executive said that China’s second-largest telecom equipment maker expects smartphone shipments in 2013 to exceed an earlier 50 million unit forecast.

* Lenovo Group fell 2.7 percent from Tuesday’s more-than-five-year closing high ahead of its third-quarter earnings due later in the day. Still, it has risen 18 percent in January, after jumping 36 percent in 2012.

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