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HK stocks edge higher as banks rise on earnings

Published 10/28/2010, 04:11 AM
Updated 10/28/2010, 04:16 AM

HONG KONG, Oct 28 (Reuters) - Hong Kong stocks ended slightly higher on Thursday, with gains by banks on the back of stronger-than-expected earnings offsetting declines in property and energy counters.

The benchmark Hang Seng Index <.HSI> closed up 0.2 percent at 23,210.86, recovering slightly from Wednesday's 1.9 percent drop. The China Enterprises Index <.HSCE> rose 0.51 percent, driven by a strong day for mainland banks.

Bank of China Ltd <3988.HK> rose 2.2 percent after reporting a record profit for the third quarter that pointed to a strong year-end for Chinese banks. [ID:nTOE69P027] (Reporting by Vikram Subhedar; Editing by Chris Lewis) (vikram.subhedar@thomsonreuters.com; +852 2843 6975; Reuters Messaging: vikram.subhedar.reuters.com@reuters.net))

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