China markets edge up, led by real estate
China markets rose, led by property shares, on speculation of higher house prices as Beijing called for further protection of arable land on the China’s 19th Land Day and the Federal Reserve overnight decided to leave interest rates unchanged.
New World Development (HK:0017) surged 7.6 percent. Henderson Land Development Co., Ltd. (HK:0012) rose 6.2 percent. Sino Land Company Limited (HK:0083) rose 6.24 percent. Lander Real Estate Co., Ltd.(SZ:000558) rose to its 10 percent trading cap.
The Shanghai Comprehensive Index climbed 0.06 percent to 2926.62. The small and medium enterprises SME Comprehensive Index added 0.14 percent to 4344.34.
In Hong Kong, the Hang Seng Index rose 2.14 percent to 18275.03. The Hang Seng Growth Enterprises Index advanced 0.85 percent to 5712.00. The Hang Seng China Enterprise Index climbed 2.22 percent to 10763.76.
Taiwan's TAIEX Index rose 1.22 perent to 6457.61.
Sinopec (SH:600028;HK:0386) climbed 0.38 percent on Shanghai trading and 0.36 percent on Hong Kong trading, after its parent agreed to buy Geneva-based Addax Petroleum Corp. for C$8.3 billion (US$7.3 billion).
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