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H-Shares Up Over 2%, Real Estate, Sinopec Gain
The Hang Seng Index climbed 2.29% to close at 21,752.87 on October 30, in main board trading volume of HK$76.35 billion.
Real estate shares rebounded sharply as insiders at China's Central Bank and Ministry of Housing and Urban-Rural Development denied rumors that China plans to reverse favorable policies for real estate in the near future, reports Caijing.com. Henderson Land Development (0012.HK) soared 7.51%, while Sun Hung Kai Properties (0016.HK) grew by 6.4%.
Shares of China Petroleum & Chemical Corporation (Sinopec Corp) (0386.HK) gained 1.66% on Friday after the company announced in its third quarter earnings that its net profit soared 230.3% year-on-year in the first three quarters of 2009.
Comtec Solar (0712.HK) closed at HK$1.98 on Friday, its first day of trading on the Hong Kong exchange, below its HK$2.1 issue price.
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