Hong Kong shares edge higher

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Source: Dukascopy Bank SA
© scanpix/reuters
Emerging-market equities advanced for the fourth day, prompted by soaring technology shares, as Chinese industrial earnings rallied and U.S. lawmakers are about to resume budget talks. Honk Kong blue chips also advanced sending the Hang Seng index 0.4% up to 22,619.8. All but two sectors in the index edged higher with basic materials, industrials and technology sectors advancing the most by 0.64%, 0.58% and 0.49%, respectively. The gains in basic materials were mostly led by Chine RES Power shares jumping 2.02%, whereas China Life Insurance added 1.6% to HK$28.65, after around 17 million shares were sold at $HK28.65 each by an unspecified shareholder. The only two sectors that shrank were consumer services and oil and gas, down 0.26% and 0.03%. Among worst performers were Want Want China and Cosco Pacific by posting 1.12% and 0.9% declines.
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