Hong Kong stocks end up

Hong Kong stocks ended slightly higher on Wednesday after regional gains, with demand for blue chip laggards helping to build momentum and the trading debut of another property investment trust aiding a firmer sentiment.
The benchmark Hang Seng index rose 0.34 percent, or 52.25 points, to end at 15,221.42 points after touching a morning high of 15,272.72. The blue chip index lost a marginal 0.09 percent on Tuesday.
Turnover increased to HK$19.9 billion ($2.6 billion) on Wednesday compared to HK$17.9 billion on Tuesday.
"We still expect to see further upside on some window dressing demand while the underlying tone is still firm," said Herbert Lau, chief investment officer from CASH Asset Management.
New listings remained the market focus with the early strong performance of Guangzhou Investment's GZI REIT on its debut pleasing many investors.
Shares in GZI Real Estate Investment Trust, the first property trust composed entirely of mainland Chinese buildings, rose 22.8 percent from their issue price to hit a high of HK$3.775 shortly after their debut, before they finished the first day of trading at HK$3.50.
The shares were indicated 20 percent higher ahead of their US $230 million Hong Kong debut on Wednesday at HK$3.70 each in pre-open trade, compared with an offer price of HK$3.075.
Shares HSBC Holdings, the most heavily traded stock, gained 0.16 percent to HK$126.30, and Hang Seng Bank rose 0.1 percent to HK$102.5.
Moody's Investors Service placed the bank financial strength ratings of the two lenders on review for possible upgrade.
Shares of China Life hit a 52-week high of HK$6.85 in the morning on anticipation the company would be benefit from any appreciation in Chinese currency and economic growth in the mainland. The stock gained 0.75 percent to end at HK$6.75.
Shares of China Construction Bank also rose 2.88 percent to close at a fresh record high of HK$2.675.
Shares of PetroChina gained 0.79 percent to HK$6.35. The China Daily reported on Wednesday that China plans to build a second pipeline connecting a gas-rich western region with the energy-hungry south, a move that will complement an existing pipeline that ends in Shanghai.
Shares of Chinese property developer Agile Property Holdings Ltd lost 2.6 percent to HK$3.70 after the firm said it would issue a further HK$472.8 million in new shares to cover an over-allocation in its international offering.