A strong performance by index heavyweight HSBC kept the stock market ahead yesterday, offsetting the weakness in property and mainland-related shares.
The Hang Seng Index rose 57.93 points to 10,778.92, trimming some of Wednesday's loss of 130.72 points.
HSBC, buoyed by improving sentiment on global banking stocks and futures-related trade, pushed the index up 65 points.
The counter gained 2.51 per cent to $204 and accounted for 16.33 per cent of the slim $5.94 billion in turnover.
'There has been little activity,' Core Pacific-Yamaichi Securities sales director Terry Cheung Kam-shing said. 'If it weren't for HSBC, we'd be in negative territory.' Property counters fell 0.55 per cent to 14,810.83 points.
Mainland-related issues also declined. The red-chip index slid 2.86 per cent to 1,029.95 points, while the H-share index fell 2.72 per cent to 453.58 points.
Brokers said HSBC was benefiting from lower interest rates and increased sentiment in the wake of another global banking merger.
