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Chinese banks cap gains in Hong Kong, Shanghai


banking_economy_upbeat

By V. Phani Kumar - Nov. 24, 2009 09:24 PM EST
MarketWatch.com

HONG KONG (MarketWatch) — Hong Kong shares climbed early Wednesday, as property developers and local banks staged a rebound following a decline in the previous session. But Chinese lenders’ stocks in Hong Kong and Shanghai remained under pressure amid concerns over capital-raising issues, capping market gains. The Hang Seng Index rose 0.3% to 22,492.74, although the Hang Seng China Enterprises Index of top mainland companies fell 0.4% to 13,311.38. The Shanghai Composite rose 0.5% after toggling between gains and losses in volatile trade. Henderson Land Development Co. /quotes/comstock/22h!e:12 (HK:12 55.55, +1.85, +3.43%) /quotes/comstock/11i!hldcy (HLDC.Y 6.90, -0.25, -3.50%) rose 1.5%, and heavyweight HSBC Holdings Plc. /quotes/comstock/22h!e:5 (HK:5 95.55, +0.50, +0.53%) /quotes/comstock/13*!hbc/quotes/nls/hbc (HBC 61.64, +0.31, +0.51%) added 1% in Hong Kong. Among Chinese banks, Bank of China Ltd. /quotes/comstock/11i!bachy (BACH.Y 15.12, -0.63, -4.00%) /quotes/comstock/22h!e:3988 (HK:3988 4.42, -0.20, -4.33%) fell 3.3% and China Construction Bank Corp. /quotes/comstock/22h!e:939 (HK:939 7.01, -0.14, -1.96%) /quotes/comstock/11i!cichf (CICHF 0.92, -0.03, -2.65%) gave up 1% in Hong Kong, while in Shanghai BOC dropped 0.5% and CCB was flat.

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This entry was posted on Tuesday, November 24th, 2009, 10:32 pm and is filed under Mixed Economy, World News. You can follow any responses to this entry through RSS 2.0. You can leave a response, or trackback from your own site.

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