Hong Kong stocks climbed; oil and gas firms led gains

Source: Dukascopy Bank SA
© Scanpix/AP
Hong Kong shares ended the week on the positive note on positive economic data releases from the US and Japan. Hong Kong equities also received a boost after Chinese Vice Premier Li Keqiang said that urbanization will be the key driver of China's development in the next decade. Moreover, analysts expected Chinese data to show that the country's factory activity expanded at faster pace in November. The Hang Seng Index added 0.49% to lose at 22,030.39. Only four in nine industries included in the index posted gains. Oil and gas firms as well as basic materials were the top-performers.  PetroChina and CNOOC rallied 1.77% and 1.22% while Aluminum Corp of China (CHALCO) climbed 1.54%. In the red territory finished Hong Kong Exchange, retreating 0.8%. Hong Kong Exchange raised about USD1 billion to finance its takeover of the LME. Consumer services slumped, with Sands China sliding 1.49% amid fading hopes that it will witness the same special dividend as its parent Las Vegas Sands.
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Fri, 30 Nov 2012 15:51:21 GMT

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