Hong Kong shares surge on sixth consecutive day of gains

Hong Kong shares surge on sixth consecutive day of gainsHong Kong - Hong Kong shares rose 2.28 per cent Thursday, taking the Hang Seng Index above the 17,000-points level for the first time since October.

The index gained 383.32 points to close at 17,217.89. Turnover was a robust 95.2 billion Hong Kong dollars (12.28 billion US dollars.)

The gains followed those on Wall Street overnight and was led by banking giant HSBC which rose 5.6 per cent to close at 65.05 Hong Kong dollars.

Shares in the local lender, the Hang Seng Bank, rose 3.79 per cent to end the day at 102.6 Hong Kong dollars while China Construction Bank rose 5.1 per cent after news reports that China Investment Corp is poised to buy some of the bank's shares that are being sold by the Bank of America.

Analysts welcomed the gains, but warned a downward correction may follow in days to come.

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