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Hong Kong shares rise 1 pct, 1st gain in 4 days
March 20, 2013 / 8:10 AM / 5 years ago

Hong Kong shares rise 1 pct, 1st gain in 4 days

HONG KONG, March 20 (Reuters) - Hong Kong shares posted their first gain in four days on Wednesday, lifted by a resurgent mainland Chinese market led by the property sector after a local media report provided more clarity about fresh property curbs, easing investor uncertainty.

The Hang Seng Index closed up 1 percent at 22,256.4. The China Enterprises Index of the top Chinese listings in Hong Kong jumped 2.2 percent.

The CSI300 of the leading Shanghai and Shenzhen A-share listings closed up 3.4 percent, while the Shanghai Composite Index climbed 2.7 percent. For both, Wednesday was their best day since Jan. 14.


* Chinese property developers jumped after the 21st Century Business Herald detailed Beijing city’s plan to adapt more home sales curbs, which was announced by the central government earlier this month. This eased uncertainty for investors as it provided more clarity about the specific measures.

* Chinese developer Country Garden jumped 9.4 percent, helped by the company’s aggressive guidance for 2013. The company expects sales contracts to be 30 percent higher than last year, by value, and said it has already achieved 20 percent of the higher target.

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