Hang Seng increases as number of new loans in China expands

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Source: Dukascopy Bank SA
Hong Kong stocks climbed on Thursday, as number of new loans in a local currency increased in China. The Hang Seng Index advanced 0.3%, or 66.71 points, to 22,101.27. Consumer goods and services sectors added the most, rising 1.4% and 0.8%, respectively. Hengan International Group Co Ltd, a hygiene products manufacturer, surged 2.8% to HK$77.60. Furthermore, Tingyi Cayman Islands Holding Corp jumped 2.6% to HK$21.40. China Resources Enterprise Ltd added 2.3% to HK$24.75, supporting growth in basic materials sector, after Moody's upgraded the company's rating to Baa1. Alongside, Lenovo Group Ltd, one of the biggest electronics manufacturers in the world, retreated 5.8% to HK$7.09 amid the decline in the worldwide personal computer sales that decreased 13.9% in the first quarter of 2013.  COSCO Pacific Ltd, a shipping and logistics company, slid 2.6% to HK$10.56. China Life Insurance Co Ltd followed with a 1.7% fall to close at HK$20.60, capping further gains in financial sector.
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Thu, 11 Apr 2013 15:19:35 GMT

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