BEIJING, April 29 Hong Kong shares ended up
sharply on Tuesday, fuelled by a late afternoon rally in shares
on the mainland and a rebound in telecom operators such as China
Unicom which hit a near four-month high.
The Hang Seng Index closed up 1.5 percent at
22,453.89. The China Enterprises Index of the leading
offshore Chinese listings in Hong Kong was up 1.2 percent.
Both indexes shot up in the final hour of trade, with the
HSI gaining more than 1.2 percent as investors followed a
pattern seen on the mainland, where the Shanghai Composite Index
gained more than 0.9 percent in the final hour, bringing
the two main indexes' 4-day losing streaks to an end.
Investors also continued to pile into the mainland's two
biggest telecoms operators. That pushed China Mobile Ltd
up 4.6 percent and China Unicom Hong Kong Ltd
up 6.4 percent, sending the stock to its highest close
since early January.
But they shunned insurance giant Ping An Insurance (Group)
Co of China with the stock gaining 1.7 percent despite
the company's mainland listing climbing 2.6 percent on positive
earnings, as investors worried about its exposure to trust
(Reporting By Natalie Thomas; Editing by Jacqueline Wong)