Hong Kong shares rose; ICBC led gains

Source: Dukascopy Bank SA
© Scanpix/AP
Hong Kong equities advanced on Wednesday amid mixed profits of Hang Seng majors. Meanwhile, investors were cautious ahead of the final reading of China's PMI due on Thursday. The Hang Seng Index surged 1% to end the month at 21,641.82. Seven sectors included in the index climbed. The top-performers were basic materials and financials. Aluminum Corp of China (CHALCO) gained 0.30% while Bank of East Asia and China Construction Bank jumped 0.35% and 2.27%. Lenders moved higher after Industrial and Commercial Bank of China (ICBC) reported a 15% jump in Q3 profits. ICBC rose 1.99%. Dragging China's blue chips index lower, oil and gas companies as well as utilities retreated. PetroChina dropped 2.03%, the biggest slump in Hang Seng, after posting a 33% tumble in Q3 net income. Among utilities, China Resources Power Holdings lost 1.42%.


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