Shares Rise in Volatile Trading
May 10, 2011
The blue-chip Hang Seng Index gained 40.56 to 11379.49, while the broader All Ordinaries Index rose 14.42 to 5457.88. Volume was valued at 3.65 billion Hong Kong dollars. Several Class H shares, or mainland Chinese companies which are listed on the Hong Kong stock exchange, reported poor corporate interim results, weakening the market, analysts said. The Hang Seng China Enterprises Index, which tracks Class H shares, ended at 815.61, down 10.14. Tsingtao Brewery slipped 2.5 Hong Kong cents to 2.825 Hong Kong dollars. Last Thursday, it reported a 8.3% climb in first-half net profit to 55.8 million yuan. The financial subindex edged up 7.29 to 11441.76. Banking group HSBC Holdings rose HK$1 to HK$135.50 and its subsidiary Hang Seng Bank rose 1 cent to HK$80.25 after going ex-dividend Wednesday. The utilities subindex added 99.33 to 9789.07. Hongkong Telecommunications climbed 20 cents to HK$13.25, while China Light & Power gained 30 cents to HK$33.60. The property subindex shed 2.06 to 21320.84. New World Development climbed 60 cents to HK$38.90. Sun Hung Kai Properties slipped 25 cents to HK$77.25 while Cheung Kong (Holdings) was unchanged at HK$56.25. The commercial and industrial subindex jumped 57.14 to 8389.01. Beijing-backed CITIC Pacific jumped 20 cents to HK$34.60, a day after it reported that interim net profit surged 255% to HK$4.99 billion. The conglomerate said a one-time gain of HK$3.30 billion was recorded from its sales of partial stakes in Hongkong Telecom and Hong Kong Dragon Airlines. Meanwhile, Swire Pacific's Class A shares jumped HK$1 to HK$69.75.
VastPress 2011 Vastopolis
