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Hong Kong shares end morning up 2.1 pct; China stocks up on stimulus hope-UPDATE.
(From AFX Europe (Focus))
HONG KONG (XFN-ASIA) - Share prices finished the morning higher, reversing early weakness, as China stocks were snapped up on hopes that Beijing will unveil more economic stimulus measures.
Mainland property firms and construction materials suppliers outperformed after a top-ranking Chinese official said both central and local governments will "put more effort" into boosting property demand.
Local property developers also continued to be supported by bargain-hunting as Sun Hung Kai Properties' newly-launched housing projects attracted favorable market response.
Conglomerate Wharf surged another 8.7 pct, extending recent strong gains, after a positive recommendation from Goldman Sachs last week.
The Hang Seng index closed the morning up 297.56 points or 2.1 pct at 14,185.80, off a low of 13,659.44 and a high of 14,253.66
Turnover was 25.6 bln hkd.
- HK's Swire Pacific H1 underlying profit down 38 pct; net flat at 12.38 bln hkd.
- News wire article from: Europe Intelligence Wire August 7, 2008 700+ words
...valuation gains, was 3.27 bln hkd, down 38 pct from 5.26 bln a year earlier...operating profit of 10.95 bln hkd, up 22 pct year-on-year, including...Beverage division profit fell 11 pct to 196 mln hkd while marine services division...
- HSBC unit Hang Seng Bank 2006 net profit 12.04 bln hkd, up 6.1 pct - UPDATE.
- News wire article from: Europe Intelligence Wire March 5, 2007 700+ words
...impairment charges, rose 21.5 pct to 2.0 bln hkd, while operating profit from...impairment charges, grew 5.4 pct to 7.84 bln hkd. The bank's mainland China...profit for 2006 was up 13.6 pct at 12.58 bln hkd. The net interest income stood...
- BROKER CALL - COSCO Pacific target price raised by 22 pct to 9.8 hkd - ING.
- News wire article from: Asia Africa Intelligence Wire September 25, 2003 700+ words
...Pacific Ltd (HK 1199) by 22 pct to 9.8 hkd due to the company's expanded...accelerate EPS growth to 15 pct a year annually between...dividend yield of over four pct per annum, the investment...Index. (1 usd = 7.8 hkd) elliot.wilson@afxasia...
- HSBC unit Hang Seng Bank 2006 net profit 12.04 bln hkd, up 6.1 pct yr-on-yr.
- News wire article from: Europe Intelligence Wire March 5, 2007 700+ words
...impairment charges, rose 21.5 pct to 2.0 bln hkd, while operating profit from...impairment charges, grew 5.4 pct to 7.84 bln hkd. The bank's mainland China...profit for 2006 was up 13.6 pct at 12.58 bln hkd. Net interest income stood...
- Hong Kong's New World Devt FY net profit falls 61 pct on 1.76 bln hkd charges.
- News wire article from: Europe Intelligence Wire October 10, 2006 700+ words
...its year to June net profit fell 61 pct to 1.06 bln hkd mainly due to net charges which amounted to a total of 1.76 bln hkd. Managing director Henry Cheng said the charges included a 2.44 bln hkd provision for fiber optic network...
- Hong Kong Esprit Hldgs yr to June net profit 3.74 bln hkd, up 16.4 pct yr-on-yr.
- News wire article from: Europe Intelligence Wire September 13, 2006 700+ words
...profit for the year to June rose 16.4 pct year-on-year to 3.74 bln hkd. Sales for the period amounted to 23.35 bln hkd, up 13.2 pct from 20.63 bln hkd a year earlier. Its earnings per share...
- Hong Kong-listed Heng Tai buys 18.83 pct in Daqing for 86.9 mln hkd.
- News wire article from: Asia Africa Intelligence Wire January 14, 2004 700+ words
...it will acquire a 18.83 pct stake in Daqing Petroleum...Chemical Group Ltd for 86.9 mln hkd in a bid to expand into northern...Daqing shares at a 27.2 pct discount to the company's closing price of 0.68 hkd as quoted on the Hong Kong...
- Hong Kong's Li & Fung to sell 4.62 pct stake to Temasek unit for 3.88 bln hkd.
- News wire article from: Europe Intelligence Wire September 8, 2008 700+ words
...new shares, or a 4.62 pct stake, for 3.88 bln hkd to a wholly-owned subsidiary...deal was priced at 23.09 hkd per share, representing a 2.39 pct premium to the company's closing price of 22.55 hkd on Friday. Temasek has undertaken...
- HSBC unit Hongkong and Shanghai Bank 2006 net profit 37.71 bln hkd,up 14.7 pct.
- News wire article from: Europe Intelligence Wire March 5, 2007 700+ words
...pretax profit of 14.95 bln hkd, up 34.3 pct year-on-year, while the...pretax profit of 15.24 bln hkd, up 15 pct. The personal financial services...pretax profit of 21.89 bln hkd, up 1.2 pct from a year earlier. HSBC...
- Hong Kong Aug Land Registry deals 25.1 bln hkd, up 44.3 pct vs July.
- News wire article from: Europe Intelligence Wire September 4, 2006 700+ words
...in August were worth 25.1 bln hkd, up 44.3 pct from the preceding month, the...month, but a decline of 3.6 pct compared with August 2005. The...apartments in August was 21 bln hkd, up 52.8 pct over the preceding month but down...