Hong Kong stocks gain 0.59% in quiet trading

HONG KONG, April 28 (Xinhua) -- Hong Kong stocks advanced 0.59 percent on Monday as investors turned cautious ahead of the Federal Reserve's meeting this week on interest rate.

The benchmark Hang Seng Index rose 96.39 points, or 0.38 percent, to open at 25,613.17 and widened its gains to 149.51 point, or 0.59 percent, to close at 25,666.29.

Trading was quiet as the index fluctuated narrow-rangedly between intra-day high 25,717.43 and the day's lowest 25,567.59.

Turnover fell to 73.74 billion HK dollars (9.45 billion U.S. dollars) from Friday's 93.65 billion HK dollars (12.01 billion U.S. dollars).

Market heavyweight HSBC, which accounts for the largest weighting of the Hang Seng Index, went up 0.99 percent to 133.3 HK dollars, lifting the index by 37.38 points alone.

China Mobile, the country's largest mobile phone operator and the market's largest stock measured by capitalization, inched up 0. 59 percent to 135.7 HK dollars, boosting the index by 20.91 points.

Energy companies headed towards different directions. CNOOC, China's largest offshore oil producer, was the market's top driving force by surging 4.98 percent to 13.92 HK dollars, elevating the index by 51.27 points alone. PetroChina, the country's largest oil producer, dipped 0.52 percent to 11.6 HK dollars. Sinopec, Asia's largest refiner, lost 2.66 percent to 8.06 HK dollars.

Hong Kong's property companies were mostly higher. SHK Properties, the largest house developer in Hong Kong, added 0.89 percent to 136 HK dollars. Cheung Kong, one of the biggest housing companies held by tycoon Li Ka-shing, gained 0.99 percent to 122.4HK dollars. Sino Land inched up 0.3 percent to 19.96 HK dollars. Henderson Land moved up 0.75 percent to 60.15 HK dollars. Hang Lung skid 0.67 percent to 29.5 HK dollars. New World Development rose 1.16 percent to 20.05 HK dollars. Hang Lung remained unchanged at 31.65 HK dollars.

Hong Kong Exchanges and Clearing Limited, the market's sole operator, skid 0.37 percent to 161.3 HK dollars.

China Enterprise Index, or H-shares, which was composed of 43 companies registered on the Chinese mainland, fell 24.98 points, or 0.18 percent, to close at 14,196.66 after the stock market in Shanghai lost 2.33 percent amid sell-off of heavyweights.

China's banking companies listed in Hong Kong all rose. Heavily traded ICBC, China's largest lender, rallied 0.81 percent to 6.2 HK dollars. Bank of China, the country's second largest bank, added 0.52 percent to 3.89 HK dollars. China Construction Bank, the third largest bank, advanced 2.22 percent to 6.91 HK dollars after its better-than-expected quarterly result. Bank of Communications gained 1.44 percent to 11.3 HK dollars. China Merchants Bank moved up 0.63 percent to 32 HK dollars.

China's insurers were lower. China Life, the country's largest life insurer, fell 1.63 percent to 33.25 HK dollars. Ping An lost 1.53 percent to 70.7 HK dollars. PICC P&C dropped 1.01 percent to 7.81 HK dollars. (7.8 HK dollars = 1 U.S. dollars)