Hang Seng ends higher on Tuesday amid sound corporate profits

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Source: Dukascopy Bank SA
Hong Kong equities were up on Tuesday as better-than-expected corporate earnings offset rising concerns over Cyprus bank crisis. The Hang Seng benchmark Index advanced 0.3%, or 59.93 points, to 22,311.08. Six out of nine groups in the gauge edged higher. Henderson Land, Hong Kong's property developer, rallied 5.5% to HK$52.75 after releasing its year-on-year profit data that was 28% higher in 2012. Sands China Ltd followed with a 3.8% surge to end at HK$39.90, lifting consumer services group that was 2% higher. Furthermore, China Resources Power soared 3.7%, adding to gains in utilities that were 0.6% up. On the downside, Lenovo Group erased as much as 2.5% to HK$7.91 and capped further gains in tech shares. China Unicom Hong Kong Ltd declined 1.9% to end at HK$10.62, contributing to a 0.3% decrease in telecommunications sector. China Resources slid 1.7%.


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