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Hong Kong stocks soar 3.57% on Thursday

(Xinhua)
Updated: 2009-03-26 17:22

Hong Kong stocks soared 486.87 points, or 3.57 percent, to close at 14,108.98 on Thursday, lifted mainly by the prices upsurge of mainland-based firms in the market.

Related readings:  Chinese shares gain 3% as overseas markets rebound   China Life Q4 net falls 42% on stock slump  Hong Kong stocks close 2.07% lower  Chinese shares down 2% on profit-taking

The benchmark Hang Seng Index rose 199.17 points, or 1.46 percent, to open at 13,821.28 and touched the day's lowest 13,819.1 in narrow fluctuation in the morning session.

Encouraged by the Industrial and Commercial Bank of China's strong growth of profit in 2008, investors rushed to buy into shares of major companies on the Chinese mainland, sending the index above the 14,000 mark in the afternoon session.

The index jumped 486.87 points, or 3.57 percent, to close at 14, 108.98 after peaking at 14,132.09.

Turnover rose sharply to HK$64.05 billion ($8.27 billion) from Wednesday's HK$54.13 billion.