SHANGHAI, April 1 Hong Kong shares finished up
1.3 percent on Tuesday, as a surge in gambling stocks and a
rally in Tencent drove the index to its highest close
in more than three weeks.
The Hang Seng Index ended at 22,448.54 points, its
highest close since March 7. The China Enterprises Index
of the leading offshore Chinese listings in Hong Kong gained 0.2
Gambling stocks ended the day up sharply as Macau monthly
gambling revenue data released just over an hour before the
close showed 13 percent growth in March, at the top end of
analyst estimates of 10-13 percent.
Macau, a special administrative region, which pulls in more
from gambling in two months than Las Vegas typically makes in a
year, clocked up $4.4 billion in revenue in
Gambling stock gains were fuelled by funds buying into the
sector, pushing companies such as Sands China Ltd up
9.1 percent and MGM China Holdings Ltd up 5.6 percent.
Tencent Holdings Ltd, China's biggest Internet company,
gained 3.9 percent, clawing back some of the 7.8 percent it lost
last week when investors sold off tech shares globally.
China Merchants Holdings (International) Co Ltd
was the day's biggest loser on the Hang Seng, falling 4.1
percent after the company announced plans to sell HK$15.4
billion ($2 billion) worth of convertible securities to repay
debt and fund the construction of ports and related business.
($1 = 7.7571 Hong Kong Dollars)
(Reporting By Natalie Thomas; Editing by Jacqueline Wong)