Hong Kong stocks end 0.55% higher

Hong Kong stocks rose 124.62 points, or 0.55 percent to close at 22,984.48 points on Wednesday. The benchmark Hang Seng Index traded between 23,138.86 and 22, 933.31. Turnover totaled 55.15 billion HK dollars (about 7.12 billion U.S. dollars). The Hang Seng China Enterprises Index gained 17.47 points, or 0. 17 percent to close at 10,333.59. Three of the four major sub-indices gained ground, with the Properties sub-index gained the most of 1.09 percent, followed by the Commerce & Industry of 0.78 percent and the Finance of 0.31 percent. The Utilities sub-index lowered 0.18 percent. Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, edged down 0.24 percent to close at 84.15 HK dollars. Its local unit Hang Seng Bank gained 0.71 percent to close at 124.70 HK dollars. Local bourse operator HKEX fell 0.32 percent to end at 123.90 HK dollars. Cheung Kong Holdings, a powerful HK-based developer controlled by billionaire Li Ka-shing, soared 3.81 percent at 122.6 HK dollars. SHK Properties went up 0.28 percent to end at 105.80 HK dollars. Henderson Land, another major developer in Hong Kong, rose 1.46 percent to 48.6 HK dollars. Industrial and Commercial Bank of China gained 0.92 percent to close at 5.46 HK dollars. China Construction Bank moved up 0.17 percent at 5.98 HK dollars and Bank of China closed unchanged at 3. 54 HK dollars. PetroChina fell 0.47 percent to 8.52 HK dollars. Sinopec went up 1.15 percent to end at 6.14 HK dollars. (1 U.S. dollar = 7.75 HK dollars)