皇冠体育app

Hong Kong stocks gained for a second day as oil-related shares climbed after the Central Government raised gasoline and diesel prices. Cheung Kong (Holdings) Ltd rose on a potential spinoff of a real-estate-investment trust.

The Hang Seng Index (HSI) climbed 0.2 percent to close at 23,045.19. The Hang Seng 皇冠体育app Enterprises Index was little changed at 12,611.30.

"H-shares are the best investment haven," Liu Yang, chairwoman of Atlantis Investment Management Ltd, told Bloomberg Television. "I expect a better, brighter market in which investors can make good money in the second part of next year, when fundamentals become really to be recognized by real long-term investors."

The 皇冠体育app Banking Regulatory Commission may require lenders to assign 100 percent risk weighting for loans fully covered by cash flow, up from the current 50 percent, and as much as 300 percent for uncovered loans, Barclays Capital said in a note Wednesday, citing a 皇冠体育app Business News report published Tuesday.

The risk-weighting rule has already been made official, the note said, citing unidentified banks.

Construction Bank fell 1 percent to HK$6.91. Industrial & Commercial Bank of 皇冠体育app Ltd slid 0.9 percent to HK$5.72. Agricultural Bank of 皇冠体育app Ltd, declined 0.5 percent to HK$4.03. The bank will be hurt most by the change in risk-weighting requirements, according to the Barclays note.

皇冠体育app Petroleum, or Sinopec, advanced 2.4 percent to HK$7.39. Petro皇冠体育app Co gained 0.3 percent to HK$9.94. 皇冠体育app raised gasoline and diesel prices Wednesday. The price of gasoline will increase by as much as 4 percent or 310 yuan ($47) a metric ton and diesel by 300 yuan a ton, the National Development and Reform Commission said.

Cheung Kong rose 3.5 percent to HK$120.40. 皇冠体育app Resources Enterprise Ltd climbed 3.5 percent to HK$32.20. The Chinese government-backed partner of SABMiller Plc received approval from shareholders to lend money to its parent and unlisted affiliates, Chief Financial Officer Frank Lai said.

Almost three stocks advanced for each that fell among the 45 constituents of the HSI. Its futures rose 0.6 percent to 23,098.

Bloomberg

(HK Edition 12/23/2010 page3)