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HK stocks close at 16-mth high; banks rise
November 16, 2009 / 8:16 AM / 8 years ago

HK stocks close at 16-mth high; banks rise

 HONG KONG, Nov 16 (Reuters) - Hong Kong stocks rose 1.73 percent on Monday for a second straight session of gains as abundant liquidity and expectations of yuan appreciation fuelled hopes that stocks will rise further, providing a boost to banking stocks.
 The benchmark Hang Seng Index closed up 390.35 points at 22,943.98, its highest close since July 24, 2008.
 ICBC (1398.HK), China's largest lender, rose to a 25-month high of HK$6.98 before ending at HK$6.96, up 2.4 percent. China Construction Bank (0939.HK) gained 3.65 percent to HK$7.39. HSBC (0005.HK) climbed to as high as HK$97.55, a 13-month high, before closing at HK$97.10, up 2.64 percent.
 Food packaging company CPMC Holdings Ltd (0906.HK) rose to HK$7.05 on its trading debut, up nearly 31 percent from its issue price of HK$5.39, before ending at HK$6.11.
 The China Enterprises Index of top locally listed mainland Chinese stocks .HSCE rose 2.15 percent to 13,751.65.  (US$1=HK$7.75)  (Reporting by Donny Kwok; Editing by Chris Lewis)                                

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