960403

HK equities

narrowly mixed

HONG KONG: Hong Kong stocks closed Wednesday little changed after drifting listlessly all day on caution ahead of the five-day Easter weekend, brokers said.

The blue-chip Hang Seng Index ended down 4.76 points at 11,139.88, off a high of 11,213.50. Turnover rose to HK$4.54 billion from Tuesday's adjusted HK$4.02 billion.

"Pre-holiday doldrums returned after yesterday's futures short squeeze and most players are sidelined ahead of Friday's U.S. March jobs report, which will decide to a large extent the market's heading when trade resumes next Tuesday," said Ben Kwong, research director at Dharmala Securities.

The broader All Ordinaries index put on 5.85 to 5,332.54.

Swire A closed 75 cents lower at HK$67.75, after touching a high of HK$69.25, after denying press reports that it was looking to sell out its majority stake in Cathay Pacific, which dipped five cents to HK$13.50.

CITIC Pacific gained 10 cents to HK$30.70, off a high of HK$31, on speculation that it could spin off its infrastructure operations.

Key blue chips dominated the most active list.

Hutchison held steady at HK$49.30 and its Cheung Kong associate followed by jumping 75 cents to HK$57, while HSBC dipped 50 cents to HK$118. Sun Hung Kai Properties surged another HK$1.25 to HK$74.25, after soaring HK$2.50 on Tuesday amid renewed optimism about the property market.

April index futures swung to a premium, gaining 55 to 11,200 on preliminary volume of 13,047 lots.-Reuter