HK shares at 3-week high
Tuesday, 18 February 2014
HONG KONG, Feb 17 (Reuters): Hong Kong shares closed at their highest in three weeks on Monday, thanks to robust Chinese bank lending data and a rally by mainland insurers after China Life Insurance reported strong January premium growth.
The Hang Seng Index finished up 1.1 per cent at 22,535.9 points, its highest since Jan. 23. The China Enterprises Index of the leading offshore Chinese listings in Hong Kong climbed 1.7 per cent.
Gains came in relatively lackluster turnover, with much focused on China Life Insurance, whose shares jumped 5.8 per cent, its biggest single-day gain since November 18.
After the market closed on Friday, China's largest insurer posted a 73-per cent jump in January premium income from a year earlier. That spurred at least two broker upgrades.