HONG KONG, Nov 13 (Reuters) - Hong Kong stocks rose 0.7
percent on Friday, as a bullish outlook from Industrial and
Commercial Bank of China and a spurt of corporate takeover talk
in the financial sector offset concerns about weak U.S. consumer
spending.
ICBC (1398.HK) rose 2 percent to HK$6.80 after its chairman
said he expected the non-performing loan situation in China's
banking sector to improve next year, as Chinese firms climb out
of the global economic crisis. [ID:nSP544236].
Taifook Securities (0665.HK) gained 6.6 percent to HK$4.84
after rising as much as 9.9 percent to HK$5.00, its highest since
January 2008.
China Construction Bank (0939.HK) is in talks to buy control
of the brokerage to give it a solid footing in Hong Kong's
lucrative retail securities market, Reuters reported on Thursday.
[ID:nHKG329606].
The benchmark Hang Seng Index closed up 156.06 points at
22,553.63.
The China Enterprises Index of top locally listed mainland
Chinese stocks .HSCE rose 1.03 percent to 13,461.79.
(Reporting by Sui-Lee Wee, Editing by Ken Wills)
Financials
