Hong Kong stocks close 1.78% higher

Hong Kong stocks ended 1.78 percent higher on Tuesday, with the benchmark Hang Seng index rising 383.72 points to end at 21,962.98 points, after trading between 21,623.79 and 22,025.58. Turnover totaled 66.69 billion HK dollars (about 8.57 billion U.S. dollars). The Hang Seng China Enterprises Index rose 243.08 points, or 2. 53 percent, to close at 9,856.85. Four sub-indices all gained ground, with the Finance sub-index rising the most by 2.18 percent, followed by the Utility 1.69 percent, the Properties 1.54 percent and the Commerce and Industry 1.39 percent. Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, closed 0.6 percent higher at 79.70 HK dollars, while its local unit Hang Seng Bank closed up 0.9 percent at 120. 10 HK dollars. Bank of East Asia, another Hong Kong's major bank, was up 0.9 percent at 29.30 HK dollars. Local bourse operator HKEX gained 1.9 percent to 123.40 HK dollars. Local developers Hang Lung Properties climbed 1.4 percent at 22. 05 HK dollars. Henderson Land, another major developer in Hong Kong, went up 0.5 percent to 41.40 HK dollars, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, was up 1.4 percent to 114.30 HK dollars. As for mainland-based financial stocks, China Construction Bank, the country's second largest bank which accounts for the third largest weighting of the Hang Seng Index, jumped 3.1 percent to 5. 34 HK dollars. ICBC, the world's largest bank by market value, advanced 2.4 percent at 4.75 HK dollars. Bank of China increased 2.2 percent to 3.25 HK dollars. Bank of Communications, China's fifth biggest lender measured by assets, went up 2.4 percent to 5.02 HK dollars. PetroChina, the country's largest oil and gas producer, was up 1.4 percent at 7.78 HK dollars. (1 U.S. dollar equals 7.761 HK dollars)