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HK shares close up 1.8 pct; China Mobile leads

Wed Aug 27, 2008 4:05am EDT

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HONG KONG, Aug 27 (Reuters) - Hong Kong shares closed 1.8 percent higher Wednesday, lifted by sharp post-earnings relief rallies in index heavyweights China Mobile (0941.HK) and China Life (2628.HK).

China

The market posted most of its gains in the post-lunch session, an encore to Tuesday's late rally, driven by frenetic buying ahead of the index futures expiry on Thursday.

The benchmark Hang Seng Index .HSI unofficially closed up 388.46 points at 21,445.12 after ending the morning session 0.7 percent higher.

The China Enterprises Index .HSCE of top locally listed mainland Chinese firms rose 3.2 percent.

($1=6.833 Yuan)

($1=7.805 Hong Kong Dollar)

(Reporting by Parvathy Ullatil; Editing by Jonathan Hopfner)

China


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