Hong Kong: Shares close up on mainland policy prospect

[HONG KONG] Hong Kong shares finished higher on Thursday afternoon, reacting to a surge in stock markets on the mainland that were boosted by prospects of more stimulus measures to support economic growth.

The Shanghai index experiencing its biggest rise since Jan 5, as investors bet on an increased chance of policy stimulus after disappointing bank loan data.

The Hang Seng index rose 1.0 per cent, to 24,350.91 points, while the China Enterprises Index gained 1.5 per cent, to 12,190.52 points.

Among the most actively traded stocks on Hong Kong's main board were Bank Of China, up 1.4 per cent at HK$4.47 China Construction Bank, up 0.9 per cent at HK$6.45 and Hutchison Harbour Ring Ltd, up 13.7 per cent at HK$0.83.

Chinese investment flowing from Shanghai into Hong Kong through the mutual market access pilot programme took up 0.57 billion yuan (US$92.08 million) of the 10.5 billion yuan daily quota.

Total trading volume of companies included in the HSI index was 1.8 billion shares.

REUTERS