Group items tagged

Encouraging news about higher U.S. consumer spending and a Greek bank merger pushed Hong Kong higher in heavier trading. In addition, completion of Bank of America's sale of China Construction Bank removed uncertainty from the market.

Hong Kong opened lower after Tuesday's sharp rise and retreated further in the early afternoon in line with a drop in Asian and Mainland Chinese markets but gained back some losses before closing.

Hong Kong ended slightly higher in thin, volatile trading as the downgrade of Italian debt was another blow for investor confidence.

The blue-chip Hang Seng Index plunged 300 points in the morning before a rally in Mainland markets helped erase most losses by mid-day. However selling pressure emerged in the afternoon.

Financial stocks led the market higher today as insurers benefited from the east coast's avoidance of a potential major natural disaster. Consumer spending boost also helped the rally.