Hong Kong's Hang Seng Index (HSI) continued rising yesterday. Despite the index losing momentum near the closing session, it rose 101 points, or 0.47 percent, to close at an all-time high of 21,684.

Daily turnover also hit a fresh record of HK$121 billion, exceeding the previous record of HK$100 billion on Monday. It was the second day the Hong Kong market had a transaction value of over HK$100 billion.

The index started out sharply higher by 300 points and peaked at 21,900.

Mainland company indicator China Enterprises Index climbed to 12,138 in the morning session, before closing at 11,905, gaining 38.7 points, or 0.33 percent.

Many mainland stocks suffered from short-sell pressure. China Construction Bank and the Industrial and Commercial Bank of China fell 0.95 percent and 0.45 percent respectively, closing at HK$5.2 and HK$4.42.

PetroChina and China Mobile went up 5.2 percent and 0.06 percent, settling at HK$11.74 and HK$80.4.

Analysts said the market was stimulated by impending A-share floats and reports that the Hong Kong government is studying ways to narrow the discrepancy between A- and H-share prices.

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