Hong Kong shares close higher ahead of land auction
Published July 30th, 2007
Share prices closed higher led by property stocks on expectations that a government land auction tomorrow will attract strong bids from major property developers.
Dealers noted that select other blue chips also attracted buying interest after sharp falls Friday, while HSBC (nyse: HBC - news - people ) rebounded from early losses as the bank prepares to release its first-half results.
The Hang Seng Index closed up 169.49 points or 0.75 pct at 22,739.90, off a low of 22,473.92 and high of 22,759.49.
Turnover was 80.73 bln hkd.
The property sub-index closed up 398.06 points or 1.50 pct at 26,946.45.
HSBC was up 0.20 hkd or 0.14 pct at 141.3 and Hang Seng Bank was up 2.7 hkd or 2.45 pct at 112.9. The two banks will announce their first-half results shortly.
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