HK shares up for 3rd day on stimulus hopes, higher commodity prices

lunes 4 de julio de 2016 04:09 GYT
 

HONG KONG, July 4 (Reuters) - Hong Kong stocks climbed on Monday for a third straight session of gains, as higher commodity prices and hopes of more stimulus measures from Beijing boosted resources shares, and investors built up positions amid ample liquidity in the market.

The Hang Seng index rose 1.3 percent to 21,059.20, its highest close since June 8, while the China Enterprises Index gained 1.0 percent to 8,802.35, its highest close since June 10.

All main sectors rose with property aiding the gains. CK Property rose 4.2 percent, SHKP up 4 percent, Hang Lung Properties up 3.8 percent.

Hong Kong shares of China Vanke rose 6.7 percent in their best day since March 14, after the developer rejected a call from its biggest shareholder for a general meeting aimed at ousting its board.

Shares in West China Cement plummeted 24.3 percent after larger rival Anhui Conch Cement scrapped a planned takeover of the Hong Kong-listed firm. (Reporting by Michelle Chen and Donny Kwok; Editing by Gopakumar Warrier)