HK stocks close higher

Hong Kong stocks ended higher Tuesday, led by China Mobile (Hong Kong) Ltd. (0941) which entered into a second-day rebound rising as much as 2.6%. Properties gained 3.6% as a group and helped drive the market up. HSBC Holdings (0005) closed at a flat HK$102.50 ending its six straight days of falls since Feb. 26. Other major telecoms also recovered.At the close, the HSI was up 185.79 pts, or 1.31%, at 14,321.05, having climbed as much as 211.43 pts. Turnover was HK$8.62 bln, down from yesterday's HK$9.79 bln.GEI rose 4.37 pts, or 1.52 pct, to 292.68. Turnover was HK$208.99 mln, sharply higher than yesterday's HK$128.7 mln.China Mobile finished 1.3% higher at HK$38.40. The stock was bounced from its 15-month low of HK$35.70 on March 2. Hutchison Whampoa Ltd. (0013) recovered 1.7% to HK$89.50, virtually unaffected by CLSA's downgrades yesterday.Pacific Century CyberWorks (0008) rose 1.2% to HK$4.275.HSBC was unchanged at HK$102.50 after moving in a small range of HK$102 to HK$103.50. Cheung Kong Holdings Ltd. (0001) surged 4.2% to HK$92.75. Cheung Kong will buy a 5% stake in GEM candidate Global Bio-chem, a corn-processing manufacturer.Sun Hung Kai Properties Ltd. (0016) surged 3.6% to HK$85.50.

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