BANKS and utilities won a free ride on yesterday's property stock rally, with HSBC and Hongkong Telecom making significant gains after profit-taking late last week. The bank rose 50 cents to $84.50, on a turnover of $207.13 million, the third heaviest of the day. The rise added more than seven points to the Hang Seng Index. Sister stock Hang Seng Bank gained 50 cents to $55.50. HK Telecom gained 30 cents to $14, adding 19 points to the index on a turnover of $129.25 million. It was the sixth most heavily traded share of the day. China Light and Power gained 50 cents to $47.50, on a turnover of $128.82 million, the seventh highest of the day. Conglomerate Hutchison Whampoa was also heavily traded, rising 30 cents to $25.10 on a turnover of $102.59 million, the ninth highest on the day. Infrastructure play Hopewell Holdings was down five cents to $6.45 on the maiden day of trading of the Robert Fleming 1995 warrant in the stock. It closed at $1.84 on a turnover of $29.08 million as 17.3 million shares changed hands, the ninth biggest turnover in terms of share volume. Brown Brothers Harriman, the largest privately owned bank in the United States, remains bullish about Hong Kong's stock market despite the string of record highs. ''We wouldn't be surprised if there was some consolidation, but the outlook for the region is good,'' said partner Alexander Erchlentz. Meanwhile, DBS Securities research director Percy Au-young said much of the rally was concentrated on the major blue chips. In general, second and third-line stocks have not found their ratings altered by the influx of foreign money. After Henderson Land, the best performing stock of the day was Hong Kong China, up 27.5 cents, or 14 per cent to $2.225. Emperor (China) was the third best performer, up 60 cents to $5.35. In volume terms, Star Paging was the second most heavily traded stock, rising 2.5 cents to $2.60 on a turnover of $98.11 million as 40.29 million shares changed hands. The group announced yesterday that it had completed a placing of 38 million shares worth $92.1 million, leaving the controlling shareholders with 50.8 per cent of the group. Shanghai Petrochemical was also well traded, rising 2.5 cents to $2.025 on a turnover of $51.45 million as 25.42 million shares changed hands, making it the fifth most heavily traded stock of the day in terms of share volume. Juko Laboratories, a specialist in printed circuit-board making, has changed its name amid continued market speculation of greater co-operation between the group and Tomei International. Suwa International, formerly Juko, saw its share price unchanged on the day at 60 cents, while Tomei International was $1.44, up one cent. An announcement regarding the group is expected today. Climax International suspended trading on news that two major shareholders of the company were in talks to sell a major stake between themselves. ''If concluded, it will lead to a general offer being made for all the shares and warrants of the company,'' said the paper products and photo albums company. It said an announcement would be made as soon as the parties concerned reached agreement on the matter, and trading in the shares and warrants of the company would remain suspended until then. The stock closed on Friday at $1.43, two cents down on the day. Allied Group was a poor performer ahead of its results, losing four cents to $1.04 on a turnover of $20.13 million. Allied Group, Allied Industries, which was up two to 81 cents, and Allied Properties (HK), up three to $1.51, all announce on Thursday.