Hong Kong shares end up 0.3pc in weakest turnover in 2013

PUBLISHED : Monday, 22 July, 2013, 2:06pm
UPDATED : Monday, 22 July, 2013, 4:58pm

Hong Kong shares eked out gains on Monday in the weakest turnover this year, helped by a 5.2 per cent jump for China Resources Power that countered weakness in Chinese banks after Beijing scrapped the floor on lending rates.

The Hang Seng Index ended up 0.3 per cent at 21,416.5 points, trapped in the same 345-point range for an eighth day. The China Enterprises Index of the leading Chinese listings in Hong Kong slipped 0.4 per cent.

At US$5 billion (HK$38.79 billion), turnover in Hong Kong was the weakest this year and was some 34 percent below its average in the past 20 sessions.

China Resources Power extended strong gains in afternoon trade after the company said its minority shareholders rejected a plan to merge with China Resources Gas.