BIZCHINA
New record for Hang Seng
By Hui Ching-hoo (China Daily)
Updated: 2007-06-21 16:07
Hong Kong's Hang Seng Index (HSI) continued rising yesterday. Despite the
index losing momentum near the closing session, it rose 101 points, or
0.47 percent, to close at an all-time high of 21,684.
Daily turnover also hit a fresh record of HK$121 billion, exceeding the
previous record of HK$100 billion on Monday. It was the second day the
Hong Kong market had a transaction value of over HK$100 billion.
The index started out sharply higher by 300 points and peaked at 21,900.
Mainland company indicator China Enterprises Index climbed to 12,138 in
the morning session, before closing at 11,905, gaining 38.7 points, or
0.33 percent.
Many mainland stocks suffered from short-sell pressure. China
Construction Bank and the Industrial and Commercial Bank of China fell
0.95 percent and 0.45 percent respectively, closing at HK$5.2 and HK$4.42.
PetroChina and China Mobile went up 5.2 percent and 0.06 percent,
settling at HK$11.74 and HK$80.4.
Analysts said the market was stimulated by impending A-share floats and
reports that the Hong Kong government is studying ways to narrow the
discrepancy between A- and H-share prices.
(For more biz stories, please visit Industry Updates)
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