HK stocks end 0.85% higher

HONG KONG - Hong Kong stocks rose 0.85 percent on Thursday. The benchmark Hang Seng index closed up 157. 76 points to end at 18,678.29 points, after trading between 18,624. 43 and 18,845.57. Turnover totaled HK$47.66 billion ($6.14 billion).

The Hang Seng China Enterprises Index rose 35.43 points, or 0. 38 percent, to close at 9,473.46.

Three sub-indices gained ground, with the Finance sub-index rising the most by 1.13 percent, followed by the Commerce and Industry 0.72 percent and the Properties 0.64 percent. The Utility fell 0.3 percent.

Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, rose 2.1 percent to close at HK$63.20, while its local unit Hang Seng Bank ended 0.2 percent higher at HK$100.60. Bank of East Asia, another Hong Kong's major bank, closed up 0.8 percent to HK$25.90. Local bourse operator HKEX increased 2.3 percent to HK$108.40.

As for mainland-based financial stocks, China Construction Bank, the country's second largest bank which accounts for the third largest weighting of the Hang Seng Index, added 0.7 percent to HK$5. 50. ICBC, the world's largest bank by market value, ended up 0.2 percent at HK$4.48. Bank of China advanced 0.7 percent to HK$2.85. Bank of Communications, China's fifth biggest lender measured by assets, rose 0.4 percent at HK$5.12.

Local developers Hang Lung Properties fell 0.2 percent to HK$25.30. Henderson Land, another major developer in Hong Kong, lost 1.0 percent to HK$40.20, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, added 1.6 percent to HK$89.45.

As for energy stocks, China's top refiner Sinopec was up 0.4 percent to HK$7.02. PetroChina, the country's largest oil and gas producer, moved up 1.5 percent to HK$10.04.