Daily Market Summary

The gains in the HSI expanded after opening high yesterday. The index eventually closed at 22,582, up 230 pts. The market turnover increased to HK$59.475bn.

    Mainland developers remained strong. CHINA RES LAND (1109) and CHINA OVERSEAS LAND (688) jumped 6% and 4.1% respectively, and became the top two gainers of the HSI. COUNTRY GARDEN (2007) rose 4.2%. Mainland banks advanced. The Big 4 Banks rose by a range of 1.5% to 2.1%. CITIC BANK (998) rose 2.9%. TENCENT (700) announced its quarter results after trading hours. The share price once hit HK$498.8 and rebounded to HK$514, up 1.3%. Cement shares performed well. CHINA RES CEMENT (1313) rose 4.4% to HK$5.24. ANHUI CONCH (914) and CNBM (3323) climbed 2.3% and 1.8%.