HK stocks end up 1% as heavyweights gain

HONG KONG -- Hong Kong stocks moved up 1 percent Wednesday as heavyweights like HSBC, CCB and ICBC gained.

The benchmark Hang Seng Index increased 213.24 points or 1 percent to close at 21,641.82 points, after trading between a day high of 21,648.64 points and a day low of 21,496.92 points. Turnover was HK$47.94 billion ($6.19 billion).

The H-Share Index gained 123.79 points, or 1.18 percent, to end at 10,582.05 points.

Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, went up 0.93 percent to HK$76.4. China Mobile, China's dominant mobile carrier, ended up 0.76 percent at HK$85.95. Another Chinese telecom giant China Unicom, added 2.59 percent to HK$12.66. Local bourse operator HKEX ended HK$127.9 with rising 1.83 percent. Esprit Holdings Limited, a local apparel manufacturer, gained 3.7 percent to close at HK$10.08, becoming the best performer among blue chips.

As for mainland-based financial stocks, Industrial and Commercial Bank of China Ltd, China's largest bank by market value, went up 1.99 percent to close at HK$5.13; CCB, the country's second largest lender by market capitalization, moved up 2.28 percent to close at HK$5.84; while BOC, one of the "big four", ended up 2.24 percent to HK$3.19.

For local property developers, Sun Hung Kai, HK's largest property developer by market value, edged up 0.94 percent to close at HK$107.9; Cheung Kong properties, owned by billionaire Li Ka-shing, increased 2.05 percent to close at HK$114.5.

PetroChina, the country's largest oil and gas producer, closed down 2.04 percent to HK$10.58. Sinopec, China's top refiner, gained 1.36 percent to HK$8.23.

China Life, one of the world's largest life insurers by market value, added 1.1 percent to HK$22.9. Ping An Insurance, China's second largest insurer, increased 1.49 percent to HK$61.4.