Hong Kong stocks close 1.25% higher

Hong Kong stocks went up 283.81 points, or 1.25 percent, to close on Wednesday at 22,996.59 points. Turnover totaled 75.98 billion HK dollars (about 9.8 billion U. S. dollars), compared with Tuesday's 61.75 billion HK dollars. The Hang Seng China Enterprises Index ended up 93.70 points, or 0.92 percent, to close at 10,329.82. All of the four sub-indices gained ground, with the Finance sub- index rising the most at 1.38 percent, followed by the Properties at 1.37 percent, the Commerce and Industry at 1.16 percent, the Utilities at 0.4 percent. Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, went up 1.79 percent to close at 85.40 HK dollars. It's local unit Hang Seng Bank moved up 0.5 percent to 124 HK dollars. Another major local lender, Bank of East Asia, grew 1.6 percent to 32 HK dollars. Local bourse operator HKEX surged 2 percent to 128.70 HK dollars. China Mobile, China's dominant mobile carrier, gained 0.5 percent to 78.45 HK dollars. Another Chinese telecom giant China Unicom gained 1.08 percent to 11.22 HK dollars. Local property stocks close down in general. Cheung Kong properties, owned by billionaire Li Ka-shing, added 0.25 percent to 121.70 HK dollars. Henderson Land closed flat at 43.35 HK dollars. Hang Lung Properties closed 0.43 percent higher at 23.30 HK dollars. Sun Hung Kai, HK's largest property developer by market value, rose 0.21 percentat 96.70 HK dollars. Mainland-based financial stocks ended higher. Bank of China moved up 1.17 percent at 3.47 HK dollars. China Construction Bank gained 1.44 percent at 5.64 HK dollars. ICBC rose 1.8 percent to 5. 04 HK dollars. As for energy stocks, Sinopec fell 1.17 percent to 5.9 HK dollars. PetroChina gained 0.25 percent to 8.11 HK dollars. (1 U.S. dollar equals 7.75 HK dollar)