Hong Kong stocks close 2.43% higher

Hong Kong stocks ended 2.43 percent higher on Wednesday, with the benchmark Hang Seng index rising 482.83 points to end at 20,338.55 points, after trading between 19,913.98 and 20,354.18. Turnover totaled 78.84 billion HK dollars (10.16 billion U.S. dollars). The Hang Seng China Enterprises Index rose 293.36 points, or 3. 31 percent, to close at 9,164.64. Four of the sub-indices all gained ground, with the Finance sub-indice rising the most by 2.90 percent, followed by the Commerce and Industry 2.15 percent, the Properties 2.05 percent and the Utility 1.0 percent. Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, rose 1.0 percent to 80.50 HK dollars, while its local unit Hang Seng Bank closed 2.2 percent higher at 113.90 HK dollars. Bank of East Asia, another Hong Kong's major bank, closed up 2.4 percent at 27.55 HK dollars. Local bourse operator HKEX gained 2.1 percent to 116.50 HK dollars. Local developers Hang Lung Properties was up 1.5 percent at 26. 55 HK dollars. Henderson Land, another major developer in Hong Kong, increased 2.3 percent to 46.30 HK dollars, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, climbed 1.6 percent to 102.70 HK dollars. As for mainland-based financial stocks, China Construction Bank, the country's second largest bank which accounts for the third largest weighting of the Hang Seng Index, rose 6.5 percent to 5.41 HK dollars. ICBC, the world's largest bank by market value, went up 6.8 percent to 4.70 HK dollars. Bank of China added 3.3 percent to 3.13 HK dollars. Bank of Communications, China's fifth biggest lender measured by assets, was up 3.2 percent to 5.23 HK dollars. As for energy stocks, China's top refiner Sinopec advanced 1.6 percent to 5.24 HK dollars. PetroChina, the country's largest oil and gas producer, ended up 1.3 percent at 7.96 HK dollars. (1 U.S. dollar equals 7.761 HK dollars)