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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: HK stock index advances 1 percent AP - 1 hour 57 minutes ago HONG KONG - Hong Kong's key stock index rose 1 percent in feather-light trade Monday to snap a four-day losing streak. The blue chip Hang Seng Index rose 144.34 points to 14,328.48 as the holidays and a generally cautious mood translated into the lowest daily turnover since August 2006. Market turnover, a measure of the total value of shares traded, was about HK$22 billion ($2.8 billion) Monday compared with a daily average of nearly HK$75 billion through November this year, according to the Hong Kong stock exchange. After four days of declines leading up to Christmas, the market was due to recover some, said Linus Yip, a strategist at First Shanghai Securities. "Before the holidays, many people were trying to cash in and liquidate their positions, so I think this is mostly a technical rebound," Yip said. Commodities firms helped lead the market higher on the back of rising prices for raw materials like crude oil and metals. Chinese upstream producer CNOOC rose 3.9 percent to 6.9 Hong Kong dollars, and gold producer Zijin Mining surged 8.4 percent to HK$4.54. Troubled conglomerate CITIC Pacific vaulted 7.4 percent to HK$8.27 amid reports that China-based CITIC group had become a majority owner as part of a bailout plan. ____ On the Net: Stock Exchange of Hong Kong: http://www.hkex.com.hk Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Thailand's True Corp revises rights issue ratioReuters - 24 minutes ago Russia stock regulator loosens trade halt rulesReuters - 29 minutes ago Rolta India acquires US-based Piocon TechnologiesReuters - 29 minutes ago Rio wants to meet Guinea govt on iron ore projectReuters - 33 minutes ago Jai Balaji to start steel plant work by Jan-end -CMDReuters - 36 minutes ago Most Popular – Business Viewed Actress Jennifer Aniston appears naked in GQ magazine Woolworths to close quarter of stores Chances of gas cut '50-50', Russia warns Ukraine At least 210 dead as Israel hammers Hamas-run Gaza Obama economic plan to cost between 675 and 775 bln: aides View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

Other News on Monday, 29 December 2008
Singapore News
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