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Hong Kong shares end up 0.1 pct; China Unicom, Great Wall Motor spike
April 22, 2013 / 8:11 AM / 5 years ago

Hong Kong shares end up 0.1 pct; China Unicom, Great Wall Motor spike

HONG KONG, April 22 (Reuters) - Hong Kong shares hovered at a week-high in thin trade on Monday, helped by strength in China Unicom as investors cheered its robust March 3G user subscriber additions and as Great Wall Motor soared on hopes of better sales growth this year.

The Hang Seng Index closed up 0.1 percent at 22,044.4 points, its highest closing level since April 12. The China Enterprises Index of the top Chinese listings in Hong Kong ended flat.

The CSI300 of the leading Shanghai and Shenzhen A-share listings closed down 0.1 percent at 2,530.7. The Shanghai Composite Index also inched down 0.1 percent. Both indexes had closed on Friday at their highest since March 27.


* Great Wall Motor soared 15 percent in its best day in more than four years after its chief executive said new products unveiled over the weekend ahead of the Shanghai auto show could help raise 2013 sales by 30 percent, higher than the company’s earlier 12.6 percent guidance.

* China Unicom climbed 4.5 percent to its highest since end-March as investors cheered its record high 3G subscriber net gain in March.

* Chinese insurers slid on concerns that payouts for Saturday’s earthquake in Sichuan province could hit profit margins, while reconstruction-related sectors such as cement and steel producers climbed on hopes that rebuilding in the aftermath of China’s worst earthquake in three years will boost demand.

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