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HK shares turn higher as developers gain

Sun Nov 30, 2008 9:52pm EST

Stocks

   

HONG KONG, Dec 1 (Reuters) - Hong Kong shares reversed course to rise nearly 2 percent on Monday, as investors snapped up shaers of Sun Hung Kai Properties (0016.HK) after the developer reported brisk sales last week.

China

At 0249 GMT, the benchmark Hang Seng Index .HSI was up about 281 points 14,170.14.

The China Enterprises Index .HSCE of top locally listed mainland Chinese companies gained 2.6 percent to 7,393.05.

Sun Hung Kai jumped 5 percent. The company reported last week that it sold all of its first batch of luxury units at Shatin, in Hong Kong's new territories.

The properties sub-index was up 2.5 percent.

(Reporting by Jun Ebias; Editing by Anne Marie Roantree)

China


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