Business News
Hong Kong stocks surge 2.4 per cent on first trading day of 2012
Jan 3, 2012, 8:58 GMT
Hong Kong - Hong Kong stocks surged 2.4 per cent on the first trading day of 2012 to close at their highest level for three weeks.
The blue-chip Hang Seng Index, which shed nearly 20 per cent of its value in 2011, climbed 443.02 points to close the day at 18,877.41 points.
Turnover was a low 32.6 billion Hong Kong dollars (4.19 billion US dollars).
Rises were led by Hong Kong-listed China companies, particularly energy companies buoyed by higher oil prices and a report suggesting that they may be able to set their own prices in 2012.
PetroChina Co Ltd rose 4.45 per cent and Sinopec Corporation was up 5.51 per cent.
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