Hong Kong stocks rose ahead of Chinese Communist Party Congress

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Source: Dukascopy Bank SA
© Scanpix/AFP
Hong Kong shares gained on Wednesday after US President Barack Obama was re-elected for the second term. Developments in Greece also drew trader's attention as the country is voting on the new round of austerity measures later in the day. Meanwhile, investors remained focused on upcoming Chinese Communist Party Congress due on Thursday where China's leader will be elected. The Hang Seng Index rose 0.71% to close at 22,099.85. Four in nine sectors climbed. Telecommunications and consumer services poised the biggest gains. China Mobile and China Unicom Hong Kong surged 2.46% and 1.48%, while Sands China advanced 0.64%. Property developers also moved higher on hopes that weaker greenback will trigger more capital inflows into Chinese territory. Sino Land and New World Development jumped 2.55% and 3.24%.


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Wed, 07 Nov 2012 16:06:21 GMT

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