Banks lead Hong Kong stocks higher

| Updated: October 24, 2017 06:52:43

Banks lead Hong Kong stocks higher

Hong Kong stocks rose on Wednesday, extending gains made in the previous trading session, with Chinese banks and insurers leading the surge.

The blue chip Hang Seng index rose to 28,521.77, its highest since May 2015, but pulled back to 28,386.32 points by the lunch break, still up 0.76 per cent.

The Hong Kong China Enterprises Index climbed 0.97 per cent at 11,414.92 at midday after it hit 11,514.82, the highest since Augist 2015, reports Reuters.

ICBC rose as much as 3.5 per cent to HK$6.48, the highest since June 2015, before paring gains to HK$6.34, still up 1.3 per cent.

Bank of Communications climbed 1.4 per cent, China Construction Bank rose 0.6 per cent and Bank of China gained 0.5 per cent.

Hong Kong will close for holidays on Thursday.

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