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Hong Kong shares edged up slightly on Wednesday in a lackluster half-day Christmas Eve session as investors continued to snap up newly listed mainland companies.
The blue-chip Hang Seng Index climbed 36.19 points, or 0.3 percent, to 12,456.70. On Tuesday, the index lost 67.48 points, or 0.54 percent.
Turnover reached 8.22 billion Hong Kong dollars (US$1.05 billion), compared to HK$15.19 billion (US$2.05 billion), in Tuesday's full session. Analysts said many investors are already on holiday.
Newly listed mainland firms extended recent gains. Insurer China Life, which made the world's largest initial public offering this year, dominated trading Wednesday, accounting for 19 percent of turnover.
China's largest life insurer jumped 9.4 percent to HK$5.80. It has soared 60 percent since kicking off trading Thursday.
Chinese gold miner Fujian Zijin followed up its strong Tuesday debut by climbing 4.4 percent to HK$5.95 Wednesday. It surged 73 percent Tuesday.
Elsewhere, retail stocks gained on hopes of increased business over the Christmas holiday. Jeweler Luk Fook closed 4.2 percent higher at HK$1.49, while cosmetics retailer Sa Sa rose 2.4 percent to HK$2.175.
Banking giant HSBC edged up 0.4 percent to HK$121.00.
The Hong Kong bourse resumes trading on Monday.
(China Daily December 24, 2003)
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