Hong Kong shares rally as concerns over bird flue fade

Source: Dukascopy Bank SA
Hong Kong equities traded green on Monday, as airlines rallied after the last week's decline triggered by concerns over a new bird flu burden in China. The Hang Seng Index added 0.1%, or 21.56 points, to 21,749.77. Cathay Pacific Airways Ltd jumped 4.6% to HK$12.84, rebounding from the seven-month low. The company's shares have lost almost 20% of their value since February 15. Belle International Holdings Ltd, a leading shoe retailer in PRC, rose 4.5% to HK$12.64, offsetting losses in basic materials and financial companies. China Resources Enterprise Ltd added 2.1% to HK$24.30, increasing for a fourth consecutive trading day. On the downside, China Shenhua Energy Co Ltd plunged 2.6% to HK$26.70,putting a lid on basic materials. Furthermore, Want Want China Holdings Ltd, the largest rice and flavored milk producer in the U.S., retreated 2.3% to HK$11.32. Henderson Land Development Co Ltd closed the top-three with a 2.1% decrease to trade at HK$51.95.
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