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Share prices in Hong Kong closed slightly higher in largely directionless trade, with select stocks attracting bargain-hunting interest late in the afternoon before the market closed for the long Lunar New Year weekend.
The Hang Seng index closed up 18.16 points or 0.2 percent at 9,258.95, off a high of 9,266.15 and a low of 9,179.24, on trade of 5.513 billion Hong Kong dollars (US$707 million).
The Hang Seng February contract was at 9,260 points.
The Hang Seng China Enterprises Index was up 12.76 points at 2,161.61, while the CAC Index was 1.38 points lower at 1,028.18. TheGEM Index was up 1.45 points at 115.79.
HSBC closed flat at 82.25, while Bank of East Asia was up 0.25 at 14.45 and BOC Hong Kong steady at 8.05.
Among property stocks, Cheung Kong was 0.50 higher at 51.00 andSun Hung Kai Properties up 0.40 at 44.90, while Sino Land was steady at 2.35.
In the telecommunications sector, China Mobile was flat at 18.40, while China Unicom lost 0.15 to 5.50. PCCW was 0.10 higher at 6.25 and Hutchison Whampoa added 0.10 to 49.00.
Among China-related stocks, China Southern Airlines was up 0.075 at 2.425, Denway Motors up 0.20 at 3.15 and CNOOC 0.10 higher at 10.05.
Elsewhere, Brilliance China was down 0.12 at 1.66 amid ongoing concern over a legal dispute between the company and its ex-chairman Yang Rong.
On the GEM Board, tom.com closed flat at 2.00 and Sunevision up0.05 at 1.07, while Phoenix Satellite Television added 0.04 to 0.95 after announcing a revenue sharing joint venture in Guangdong.
(Xinhua News Agency January 31, 2003)
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