Stock index rises; BOC HK leads gain

Hong Kong's Hang Seng Index inched up for a second day. The Hang Seng Index gained 0.1 percent to close at 21,008.62. The Hang Seng China Enterprises Index, which tracks the so-called H-shares of Hong Kong-listed mainland companies, advanced 0.2 percent to 12,048.63.

BOC Hong Kong (Holdings) Ltd advanced 2.6 percent after the second-largest Hong Kong-based bank by market value said 2009 profit more than quadrupled. China Cosco, the nation's largest container-ship operator, jumped 3.6 percent. Chaoda Modern Agriculture (Holdings) Ltd, a mainland vegetable producer, tumbled 6.5 percent after saying its profit shrank.

More than two stocks rose on the 43-company Hang Seng Index for each that fell. Futures on the stock benchmark were little changed at 21,027.

Wynn Macau profit rises 1.4%

Wynn Macau Ltd, controlled by billionaire Stephen Wynn's casino operator, said profit rose 1.4 percent last year after it cut costs in the world's biggest gambling hub.

Net income increased to HK$2.07 billion ($266 million) from HK$2.04 billion a year earlier, Wynn Macau said in a statement to Hong Kong's stock exchange Wednesday. Sales fell 4.3 percent to HK$14.1 billion, the company said. The unit of Wynn Resorts Ltd raised $1.63 billion in a Hong Kong initial share sale last year, and its stock has gained 11 percent since its October 9 trading.

Belle's net income rises to 2.5b yuan

Belle International Holdings Ltd, China's largest retailer of women's shoes, said 2009 profit rose 26 percent after consumers increased spending on footwear.

Net income rose to 2.53 billion yuan ($371 million) or 0.304 yuan a share, from 2.01 billion yuan, or 0.24 yuan, a year earlier, the Shenzhen-based company said in a filing to Hong Kong's stock exchange Wednesday. Sales rose 10.7 percent to 19.8 billion yuan.

Belle added 443 stores in 2009, taking its total outlets to 9,612 on the mainland, the statement said. About 94 percent of its sales came from the mainland. Same-store sales rose 8 percent in 2009, the company said.

Belles gross profit margin for shoes was 65.4 percent, compared with sportswears 35.7 percent, according to the statement. The company will pay a final dividend of 0.04 yuan a share, up from 0.035 yuan a year earlier.

Agencies - China Daily

(HK Edition 03/25/2010 page2)