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Hong Kong shares open higher on bargain-hunting; China Mobile up after results


Published : Tue, 23 Oct 2007 03:02
By : Agencies
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HONG KONG (XFN-ASIA) - Share prices opened higher as investors hunted for bargains after yesterday's nearly 1,100 points drop, with Wall Street's modest rebound overnight providing encouragement.

China Mobile led blue chip gains after the company announced nearly 30 pct rise in net profit for the nine months to September, while mainland banks were in focus after China Merchants Bank reported a 128 pct surge in nine months net profit.

The Hang Seng Index opened up 353.33 points or 1.25 pct at 28,726.96.

China Mobile was up 4.50 hkd or 3.16 pct at 147.0, while China Merchants Bank was up 1.15 hkd or 3.06 pct at 38.70.

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