Hong Kong stocks close up 1.6%

Hong Kong stocks closed up 1.6 percent on Thursday. The benchmark Hang Seng Index moved up 321.36 points to close at 20,468.67 points, after trading between a day high of 20,532.14 points and a day low of 20,318.02 points. Turnover shrank to 62.33 billion HK dollars (8.76 billion U.S. dollars) from Wednesday's 67.99 billion HK dollars. The H-Share Index moved up 123.76 points, or 1.39 percent, to end at 9,024.01 points. Banking giant HSBC ended up 1.57 percent at 81.05 HK dollars. China Mobile, China's dominant mobile carrier, gained 2.17 percent at 80.1 HK dollars. Mainland lenders listed in Hong Kong gained ground. ICBC, China 's largest bank by market value, moved up 2.41 percent to close at 4.67 HK dollars. CCB, the country's second largest lender by market capitalization, ended up 1.75 percent at 5.24 HK dollars. BOC, one of the "big four", increased 0.99 percent to close at 3. 05 HK dollars. For local property developers, Sun Hung Kai, HK's largest property developer by market value, gained 0.97 percent at 98.65 HK dollars. Cheung Kong properties, owned by billionaire Li Ka- shing, edged up 1.27 percent to 103.5 HK dollars. PetroChina, the country's largest oil and gas producer, ended 1. 82 percent higher at 8.96 HK dollars. Sinopec, China's top refiner, ended up 2.54 percent to 5.25 HK dollars. China Life, one of the world's largest life insurers by market value, ended up 0.46 percent at 17.58 HK dollars. (1 U.S. dollar equals 7.76 HK dollars).