Hong Kong stocks close 0.16 pct higher

Hong Kong stocks moved up 38.69 points, or 0.16 percent, to close on Wednesday at 23,524.52 points.

The benchmark Hang Seng Index traded between 23,345.89 and 23, 656.51. Turnover totaled 109.93 billion HK dollars (about $14.18 billion).

The Hang Seng China Enterprises Index ended up 39.53 points, or 0.35 percent, to close at 11,372.45.

Two sub-indices lost ground with the Properties ended down 0.01 percent, the Utilities moved down 0.15 percent. Two sub-indices gained ground with the Commerce and Industry ending up 0.04 percent and the Finance moving up 0.34 percent.

The Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, edged down 0.20 percent to 76.45 HK dollars.

Bank of East Asia, one of the largest local banks in Hong Kong, ended up 0.98 percent to 31.00 HK dollars.

Local bourse operator HKEX moved up 0.96 percent to 178.60 HK dollars.

China Mobile, China's dominant mobile carrier, ended flat with 91.75 HK dollars, while another Chinese telecom giant China Unicom moved up 0.19 percent to 10.66 HK dollars.

For the local property stocks, Sun Hung Kai, HK's largest property developer by market value, ended up 0.71 percent to 113. 60 HK dollars; Cheung Kong properties, owned by billionaire Li Ka- shing, moved down 0.44 percent to 135.40 HK dollars.

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, ended up 0.83 percent to 6.11 HK dollars.

ICBC, the world's largest bank by market value, moved down 0.37 percent with 5.36 HK dollars. Bank of China moved up 0.24 percent to 4.16 HK dollars.

As for energy stocks, China's top refiner Sinopec ended down 0. 80 percent to 6.17 HK dollars. PetroChina, the country's largest oil and gas producer, decreased 0.97 percent to 8.16 HK dollars. ( 1 US dollar equals 7.75 HK dollars)