HK shares rebound

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Source: Dukascopy Bank SA
Honk Kong shares rebounded from Tuesday's losses. The advancements in alcohol sector prompted the equities to edge higher and triggered advancements in the Hang Seng index. The Index increased 0.15% or 32.12 points to 21,799.97. However, the gains were capped by persisting uncertainty about the fiscal cliff effects and weak manufacturing data in the U.S. In addition, Strong advancements in Telecommunications shares pointed at risk aversion among investors.  Four sectors out of ten rose with Telecommunications sector posting the biggest gain of 1.24%, followed by Oil and Gas sector with 0.82% advance.  Among top performers were Chalco, Sinopec Corp and China Mobile by surging 1.85%, 1.60% and 1.37%, respectively. China Mobile, the nation's largest telecom carrier by subscriber numbers, rallied after they released news on company's plans to sell 55 million cell phones running on its 3D wireless network. The companies performing the worst were Sands China, Esprit and Wharf with their shares tumbling 4.42%, 2.86% and 2.42% subsequently.
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Tue, 04 Dec 2012 17:44:33 GMT

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