Hong Kong shares gain as easing measures in the U.S. extended

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Source: Dukascopy Bank SA
Hong Kong equities edged higher on Tuesday amid growing optimism that the Fed will extend easing measures. In addition, Chinese economic growth target for 2013 was maintained at 7.5%. The Hang Seng index rose 0.1% to 22,560.50 points. From all five groups that rallied, consumer goods and utilities sectors posted biggest gains in the benchmark gauge, by adding 1.6% and 0.8%, respectively. China Resources Power Holdings Co Ltd climbed 5.4%, as the prospects for alternative energy in China have lately improved. Want Want China Holdings Ltd, the producer of rise cakes and flavored milk, followed with a 3.6% increase. Belle International Holdings inched up 3.2% after Chinese economic planner said it would bolster the domestic demand. Meanwhile, consumer services and basic materials groups posted biggest losses among all blue-chip companies. COSCO Pacific Ltd lost 2.43% to HK$12.06 on speculation the company might pair losses in 2013. Furthermore, China Resources Land Ltd tumbled 1.9% to close at HK$20.20 to drag down financials by 0.02%.
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