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Hong Kong stocks hit new record high (2) |
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22:04, July 13, 2007 |
Bank stock HSBC was up 0.49 percent, Hang Seng Bank up 0.74 percent, Bank of East Asia up 0.43 percent, BOC HK up 0.2 percent, and StanChart up 1.94 percent.
On resource stocks side, PetroChina and Sinopec Corp mounted 0.98 percent and 0.11 percent; coal stocks received upbeat comment from investment banks, China Shenhua, Yanzhou Coal and China Coal up 2.04 percent to 3.4 percent.
Mainland property plays were in the spotlight after the yuan''s surge against the dollar this week. KWG Property Holdings gained 5.9 percent to 8.61 HK dollars and Country Garden Holdings leapt 5.2 percent to 7.3 HK dollars.
Citigroup said in a report earlier this week that fund inflows to Asian dedicated equity funds were 1 billion U.S. dollars in the week ended July 4, a reversal from an average outflow of 191 million U.S. dollars per week in the second quarter. (One U.S. dollar equals 7.81 HK dollars).
Source: Xinhua
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