Hong Kong: Shares rise, led by financials, on mainland rally

[HONG KONG] Hong Kong shares produced a solid rise on Wednesday following a rally in mainland markets.

The financial sector led gains, letting the market shrug off the negative impact on energy majors from falling world oil prices.

The Hang Seng index rose 1.1 per cent, to 24,111.98, while the China Enterprises Index gained 2.5 per cent, to 11,051.35 points.

Among the most actively traded stocks on Hong Kong's main board were CCT Land, down 4.17 per cent to HK$0.02; Semiconductor Manufacturing International, down 4.82 per cent to HK$0.79 and Bank Of China, up 2.37 per cent to HK$3.89.

Chinese investment flowing from Shanghai into Hong Kong through the mutual market access pilot programme was poor, taking up only 0.1 billion yuan of the 10.5 billion yuan (US$1.71 billion) daily quota.

Total trading volume in Hong Kong was 139.5 billion shares.

REUTERS