HONG KONG Nov 1 Hong Kong shares closed at a
new 2012 closing high on Thursday, boosted by gains in mainland
Chinese markets which advanced on hopes that some city
governments were easing restrictions on property purchases.
The Hang Seng Index finished up 0.8 percent at
21,821.9, the highest close this year. The China Enterprises
Index of the top Chinese listings in Hong Kong ended up
On the mainland, the CSI300 Index of the top
Shanghai and Shenzhen listings closed up 1.9 percent at 2,297.9.
The Shanghai Composite Index rose 1.7 percent. For both
indices, it was their best daily gain since Oct. 9.
* Bourse turnover was the highest in about a week as some
investors, anxious not to miss out on the next leg up in Chinese
equities, poured into some growth-sensitive sectors, reversing
early losses for some of the larger Chinese property names.
China Overseas Land rose 1.5 percent, while China
Resources Land gained 2.8 percent.
* The state-run China Securities Journal reported that as
many as six Chinese cities have sought to spur housing demand by
making it easier to obtain funds for buyers that could, in turn,
support land sales, a major revenue source for local
* Defensive names were broadly weaker on the day, with Hong
Kong & China Gas down 1.5 percent, hit by a UBS
downgrade from "neutral" to "sell" after strong recent gains for
the Hong Kong utilities counter. UBS cited as a key concern the
company's increasing risk profile as it expands into related
upstream energy business.