February 5, 2015 / 8:09 AM / 3 years ago

Hong Kong shares extend gains on mainland's economic stimulus

Feb 5 (Reuters) - Hong Kong shares finished up following a volatile session on Thursday, a day after the mainland’s central bank rolled out stimulus measures.

China’s central bank lowered the reserve requirement ratio (RRR) for all commercial banks by 50 basis points on Wednesday to help boost bank lending.

Analysts said that, while the Hong Kong market ended firmer, profit taking was a feature of Thursday’s trade as investors sought to reduce exposure due to concerns over China’s economic slowdown.

The Hang Seng index rose 0.4 percent, to 24,765.49, while the China Enterprises Index gained 0.2 percent, to 11,789.19 points.

Among the most actively traded stocks on Hong Kong’s main board were China Construction Bank, up 1.9 percent at HK$6.39, Bank Of China, up 1.6 percent at HK$4.40 and ICBC, up 1.8 percent at HK$5.67.

Total trading volume of companies included in the HSI index was 2.4 billion shares.

Reporting by Shanghai Newsroom; Editing by Simon Cameron-Moore

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