Hong Kong Hang Seng Up 0.6% as Property Shares Rally

The Hong Kong Hang Seng Index opened lower Thursday on Wall Street cues but gained in trading, finishing up 0.6% on hopes that Beijing will ease up on lending to China's vast property sector. Real estate issues rallied, although tech stocks continued on the downside.

The broad gauge Hang Seng rose 130.01 to 23,788.93, as gaining issues outnumbered losers 44 to 16. The Hang Seng TECH Index fell back 0.7% on the day, while the Mainland Properties Index rose 2.4%.

Leading the upside was Xinyi Glass 868, up 6.2%, the property giant Country Garden 2007, up 4.1%, and real estate concern Longfor Group 960, up 3.1%.

On the downside were Wuxi Biologics 2269, off 4.8%, and e-commerce colossus Alibaba BABA, down 2.5%.

On the mainland, the Shanghai Composite rose 0.1% to 3,573.84.