Hong Kong blue chips rebound on Wednesday

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Source: Dukascopy Bank SA
Hong Kong stocks rebounded from their losses yesterday on strength in China Mobile shares. The Hang Seng index rose 0.5% to 23,256.9 points after falling as much as 2.3% on Tuesday. All but one group in the benchmark index surged at least 0.2%. AIA Group Ltd, a provider of financial and insurance services, rallied 2.7%, the most in the index, to pace gains in financial shares that were 0.5% up. Wharf Holdings followed with a 2.1% surge and Hang Seng Bank posted a 2% gain, both also adding to the increase in financial group. Alongside to that, Sands China Ltd paired biggest losses among all blue chip companies, as its shares lost 5.2% to close at $36.30 and prompted a decline in the consumer services group that was 2.6% down. Furthermore, China Resources Power Power Holdings erased as much as 3% to HK$22.35 to cap further gains in utilities that advanced 0.6%, followed by China Overseas Land & Investment Ltd. that inched 2.8% lower, halting further gains in financial stocks.
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