China markets rise on blue chips
China indices rose as bule chips advanced, however over half of mainland listed stocks declined.
The Shanghai Comprehensive Index added 1.71 percent to 2632.93, ending the month with a gain of 6.27 percent, the fifth monthly gain in a row. The SME Comprehensive Index slid 0.07 percent to 4159.15.
The Hang Seng Index rose 5.26 percent to 17885.27, the highest since October 3, 2008. The Hang Seng Growth Enterprises Index advanced 1.24 percent to 564.46. The Hang Seng China Enterprise Index climbed 5.35 percent to 10202.25.
Taiwan's TAIEX Index rose 3.10 perent to 6890.44.
PetroChina Co. (SH:601875;HK:0875), the world’s largest compay by market value, advanced 4.35 percent on Shanghai trading and 5.83 percent on Hong Kong trading.
Industrial and Commercial Bank of China (SH:601398;HK:1398), the world’s largest bank, added 2.6 percent on Shanghai and 4.11 percent on Hong Kong trading.
Sinopec (SH:600058;HK:0386), Asia’s largest refiner, rose 2.37 percent on Shanghai and 4.56 percent on Hong Kong.
China Cosco Holdings Co. (SH:601919;HK:1919), the world’s largest operator of dry-bulk ships, climbed 4.6 percent on Shanghai and 11.83 percent on Hong Kong.
Baoshan Iron & Steel Co. (SH:600019) added 2 percent. Rio Tinto agreeed to the drop in iron ore prices of 33 percent for iron-ore fines and 44 percent for lump with Japan's Nippon Steel. Chinese mills have been calling for a cut of between 40 percent and 45 percent.
The Hang Seng Property Index rose 5.76 percent. Cheung Kong Holdings (HK:0001), Hong Kong’s largest property developer, advanced 5.11 percent. Henderson Land Development Co. (HK:0012), a Hong Kong-based developer controlled by billionaire Lee Shau-kee, gained 7.71 percent. Guangzhou R&F Properties Co. (HK:2777) surged 9.09 percent.
The Hang Seng Finance Index added 5.62 percent. HSBC (HK:0005), Europe’s largest bank, climbed 5.77 percent.
Trading of Northest Electric Development Co.(HK:0042) was suspended after the shares surged 59.15 percent in the morning.
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