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Hang Seng Index broke 24,500 points
Zijin Mining jumped
Hong Kong stock market closed higher on Monday, Hong Kong-listed Chinese-funded insurance stocks follow market gains in the mainland, leading the Hang Seng Index rose for a fourth day. Hang Seng Index opened 220 points higher after hovering within a narrow range, the mainland stock market to rise further at the Hang Seng Index rose to 24 642 points, closing at 24,579 points, up 314 points, or 1.3 percent, the market turnover of 99.5 billion Hong Kong dollars.
The mainland A-share market to reproduce the long absence of broad based , but also for state-owned shares to bring a strong force, especially by the highly pre-sell insurance stocks short mad Fountain Pen, obviously buying back up, driven by China Enterprises Index up was removed, and further accelerate the afternoon rally, rising to 13 Supra TK Society,478 high point of the city, to close at 13,419 points, up 282 points, or 2.15%, a modest turnover of HK $ 32.038 billion to enlarge.
Heavy volume of Chinese insurance stocks higher, Ping An Insurance rose 5.23% ugg boots sale, China Insurance up 6.64%, China Life (601628 market, shares bar) also rose 3.38%. Slightly behind the performance of banking stocks, Bank narrowed to rise 2%, CITIC Bank (601998 market, shares bar) up 1.34%; Bank of China and ICBC rose 0.56% and 0.34%; and Construction Bank and Merchants Bank is still down 0.15% and 1.34%, both underperformed.
Metal stocks angry, Zijin Mining soared 11.58% for the largest increase in the constituent stocks; addition to support from the rebound in the price of gold, the company began to implement the April 15 issue of A shares a catalyst.
Analysts believe that the U.S. employment data released on Zhou Wugang not ideal, the Fed will probably end of this month's interest-rate, again to reduce the interest rate 0.5%. Affected by this, Hong Kong stocks will also benefit, I believe that short-term rise in the Hang Seng Index is still power. Market concern about the U.S. recession will drag on demand for commodities, analysts said that the current commodity market, whether in gold or oil prices fall, will attract more capital back into the stock market, the stock market stable.
Lin, general manager of Fulbright Securities Ltd.often read that the current investors are urged to purchase the capital stock, its valuation has become attractive. He said that many blue-chip stocks listed in Shanghai, the current price-earnings ratio of 20 times, and last October reached the highest level is relatively low compared to 40 times.
KGI Bin Kwong ugg bailey button, chief operating officer, said the market now has the March 18 low of 20572 points up nearly 4,000 points, the Hang Seng index is expected to rise further in the second quarter, or to the probe 27 000 points. Bin Kwong said the stock may be affected by short-term profit-taking effects occur callback, but callback rate would not be significant, suggest that investors bargain hunting.
Shanghai stock market strategist Ye Shangzhi that the current external market conditions and stability in the Mainland market earlier wave of panic has passed Abercrombie and Fitch Tees, the market confidence is restored True religion Crops, is in the stable preferences of Hong Kong stocks.
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