Hong Kong climb on improving Chinese banking sector

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Source: Dukascopy Bank SA
Hong Kong shares capped their earlier losses and posted their first gain in four days on improving Chinese banking sector that offset the declining property counters. The Hang Seng index advanced 0.4% to 23,671.9 on Monday. All but two groups in the gauge advanced with basic materials jumping the most by 0.66%. Want Want China posted biggest increase in its shares with a 2.5% rally to pace a 0.58% increase in the consumer goods shares. Furthermore, Hengan International, a company that manufactures and sells personal hygiene products, also led gains in consumer goods, as its shares rallied 2.5% to HK$78.25, followed by China Resources Land that added 2.2% and lifted financial shares that rallied 0.57%. Alongside to that, Sands China Ltd., an owner of integrated resorts and casinos in Macau, paired biggest losses of 2.6% to cap further gains in consumer services pairing with Belle International Holdings stocks that erased as much as 2.3%. New World Development eased 1.6% to HK$14.82 and capped further losses in financials.
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