HK stocks close 0.89% higher -- Oct 8

HONG KONG -- Hong Kong stocks ended 0.89 percent higher on Tuesday, with the benchmark Hang Seng index rising 204.90 points to end at 23,178.85 points, after trading between 22,927.12 and 23,228.69. Turnover totaled HK$56.71 billion ($7.32 billion).

The Hang Seng China Enterprises Index rose 107.77 points, or 1. 03 percent, to close at 10,534.94.

Four sub-indices all gained ground, with the Commerce and Industry sub-index rising the most by 1.26 percent, followed by the Properties 0.91 percent, the Utility 0.76 percent and the Finance 0.59 percent.

Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, rose 0.1 percent to HK$83.80, while its local unit Hang Seng Bank closed 0.8 percent higher at HK$128.00. Bank of East Asia, another Hong Kong's major bank, closed up 1.1 percent at HK$32.95. Local bourse operator HKEX jumped 1.4 percent to HK$127.30.

Local developers Hang Lung Properties was up 0.4 percent at HK$25. 90. Henderson Land, another major developer in Hong Kong, decreased 0.5 percent to HK$46.80, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, climbed 1.0 percent to HK$125.00.

As for mainland-based financial stocks, China Construction Bank, the country's second largest bank which accounts for the third largest weighting of the Hang Seng Index, gained 0.5 percent to HK$6.06. ICBC, the world's largest bank by market value, increased 0.7 percent at HK$5.51. Bank of China added 0.8 percent at HK$3.62. Bank of Communications, China's fifth biggest lender measured by assets, advanced 1.8 percent to HK$5.79.