| Written by denny yahya |
Jakarta, Financeroll.com – Hopes of an economic rebound in China and more stimulus measures from Beijing drove Hong Kong shares higher for the third straight session Wednesday, with index heavyweight China Mobile catching up to the broader market. Traders said investors expect positive quarterly earnings reports from companies, which would help keep share prices buoyant. The blue-chip Hang Seng Index rose 89.46 points, or 0.57%, to 15,669.62 after trading between 15,213.39 and 15,669.85 during the session. Turnover totaled HK$66.26 billion, down from HK$75.42 billion Tuesday. China Mobile jumped 4.8% to HK$73.15, contributing 74.58 points of the HSI's rise. Credit Suisse said in a note China Mobile is "a laggard against the recent market rally, but its valuation is becoming more attractive." Citic Pacific rose 3.2% to HK$12.78, extending its 28.7% gain over the last two sessions, on optimism over management changes that give the conglomerate's state-run parent firmer control. |
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