The Hang Seng Index opened 81 points higher and continued its upward trend to 20,793.38, the highest point of the day, before it plummeted and closed at 20,602.87. Turnover was HK$74.76 billion (US$9.6 billion).

Chinese mainland financial stocks tightened their gains in the afternoon. Ping An to be formally included into the HSI next week jumped 3.98 percent. China Life and PICC PC lifted 2.07 percent to2.28 percent. ICBC went back to the original status and remained unchanged. CCB and CM Bank narrowed their rises to 1.5 percent and3.47 percent. Bank of China and Bankcomm shed 0.26 percent and 0.25 percent. CITIC Bank further trimmed 0.68 percent.

On Chinese telecom stocks side, China Mobile was down 1.1 percent following rises, China Telecom up 0.71 percent, Netcom down 0.2 percent, and China Unicom down 0.87 percent.

Property stocks was in mixed shows. Cheung Kong, Henderson Land and Hang Lung PPT climbed 0.2 percent to 4.07 percent. SHK PPT, New World and Sino Land dipped 0.88 percent to 2.34 percent. Lease stock Wharf Holdings was down 1.74 percent, and Swire Pacific 'A' down 0.57 percent.

On bank stocks side, HSBC was down 0.21 percent after rises, Hang Seng Bank up 0.28 percent, Bank of East Asia up 0.33 percent, and BOC HK down 0.32 percent.

On resource stocks side, PetroChina was down 0.59 percent; Sinopec Corp down 1.95 percent, and China Oilfield up 2.91 percent; coal stocks continued strength, China Shenhua, China Coal and Yanzhou Coal up 4.37 percent to 7.42 percent.

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