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HONG KONG/SHANGHAI: Hong Kong stocks recovered from an early soft start to end slightly firmer Tuesday, with China Life leading gains. Shares in China also firmed, supported by property shares. China Life, the most actively traded stock, closed at a six-seek high of HK$36.25, up 2.98 per cent.
The benchmark Hang Seng Index ended up 0.05 per cent or 10.68 points at 21,207.55, its third consecutive session of gains. The China Enterprises Index of top locally listed mainland Chinese stocks was up 0.06 per cent at 12,210.34, its highest close in six weeks.
Turnover fell to HK$58.49 billion ($7.54 billion) from Monday's HK$64.33 billion. In China, the key stock index closed up 0.52 per cent, boosted by property shares after officials' comments eased worries about measures to curb prices, while upbeat signals on earnings lifted overall sentiment.
The Shanghai Composite Index ended at 3,069.141, extending Monday's 0.73 per cent gain. Property stocks were strong for a second session on continued signs that policymakers were unlikely to act to cool prices. Losing Shanghai stocks edged out gainers by 440 to 433, while turnover rose to 107 billion yuan ($15.67 billion) from Monday's 92 billion yuan. The Shanghai property index was up 2.26 per cent.-Reuters
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