HONG KONG Nov 7 Hong Kong shares reversed
midday losses on Wednesday after U.S. President Barack Obama was
re-elected, producing their first gain in three days, with local
developers strong on hopes that greater fund inflows would
support property prices in the city.
The Hang Seng Index closed up 0.7 percent at 22,099.9
Points, creeping back towards its 2012 closing high at 22,111.3
recorded last Friday. The China Enterprises Index of the
top Chinese listings in Hong Kong also rose 0.7 percent.
In the mainland, the CSI300 Index of the top
Shanghai and Shenzhen listings had a third-straight loss,
slipping 0.2 percent to its lowest close since Oct. 31. The
Shanghai Composite Index ended flat.
* Chinese property developer Evergrande jumped 9.3
percent to its highest close since mid-July, in its best day in
5-1/2 months, after posting strong October contract sales, which
Deutsche Bank analysts said was a record high for the company.
* Gains for Hong Kong developers picked up after Obama won a
second term, spurring expectations that a weaker dollar will
trigger more inflows into the Chinese territory that could
support property prices. Sun Hung Kai Properties rose
2.1 percent, while New World Development jumped 3.2