SHANGHAI, April 2 Hong Kong shares finished up
0.3 percent on Wednesday, with property stocks posting their
biggest one-day percentage gain in over two years after state
media reported that some Chinese cities may relax house
The Hang Seng Index closed up 0.3 percent at
22,523.94. But the China Enterprises Index of the
leading offshore Chinese listings in Hong Kong fell 0.8 percent.
Hong Kong's property subindex gained 3.7 percent,
its largest daily rise since January 2012, after the Shanghai
Securities Journal reported that local governments in Hangzhou
and Changsha are considering a range of policies to promote the
market, citing anonymous sources.
Hong Kong property got a further boost after local media
reported on Tuesday that Hong Kong Chief Executive Leung
Chun-ying would put on hold a scheme to restrict the purchase of
certain new flats to Hong Kong residents.
China Resources Land Ltd rose 4.7 percent, Sun
Hung Kai Properties Ltd climbed 4.1 percent and
Country Garden Holdings Co Ltd jumped 8.4 percent.
Property gains were offset by declines in mainland banking
stocks, dragging the China Enterprises Index into negative
territory as fund managers locked in recent gains from the
Bank of China Ltd slid 2 percent, while Bank of
Communications Co Ltd and Industrial and Commercial
Bank of China Ltd dropped 1.6 and 1.5 percent,
Shares in Hong Kong Exchanges & Clearing Ltd
jumped 5.4 percent, their biggest one day percentage jump in
over a year, after Chinese media reported that investors may be
able to buy mainland listed stocks directly through the Hong
(Reporting By Natalie Thomas; Editing by Chris Gallagher)