Hong Kong shares end up 0.1 pct in first gain in three days
HONG KONG, March 5 |
HONG KONG, March 5 (Reuters) - Hong Kong shares eked out their first gain in three sessions on Tuesday, lifted by Chinese power producers after a workplan released by the country's top economic planning agency to conserve energy raised hopes of higher tariffs.
The Hang Seng Index closed up 0.1 percent at 22,560.5. The China Enterprises Index of the top Chinese listings in Hong Kong climbed 0.6 percent. This was their first daily gain since last Thursday.
The CSI300 index of leading Shanghai and Shenzhen A-share listings closed up 3 percent after recording its heaviest one-day loss in more than two years on Monday. The Shanghai Composite Index climbed 2.3 percent.
* China's top economic planning agency announced plans to accelerate market reforms in its drive to conserve energy and fight pollution. Shares of Chinese power producers surged on hopes of higher tariffs, while putting coal producers under pressure. China Resources Power jumped 5.4 percent.
* Want Want China Holdings Ltd extended gains after the country's top food and beverage maker and distributor by market value posted at the midday trading break a 32 percent rise in 2012 net profit, trumping market expectations. Want Want ended up 3.6 percent.
* Chinese property counters stayed on the defensive after outgoing Premier Wen Jiabao reiterated Beijing's commitment to curbing speculative demand in the housing market at the National People's Congress. The sector had slumped on Monday after China's cabinet announced a new round of tightening measures on the housing market late on Friday.
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