Hong Kong stocks gain 0.59% in quiet trading

Hong Kong stocks advanced 0.59% on Monday as investors turned cautious ahead of the Federal Reserve's meeting this week on interest rate.

The benchmark Hang Seng Index rose 96.39 points, or 0.38%, to open at 25,613.17 and widened its gains to 149.51 point, or 0.59%, to close at 25,666.29.

Trading was quiet as the index fluctuated narrow-rangedly between intra-day high 25,717.43 and the day's lowest 25,567.59.

Turnover fell to 73.74 billion HK dollars (9.45 billion U.S. dollars) from Friday's 93.65 billion HK dollars (12.01 billion U.S. dollars).

Market heavyweight HSBC, which accounts for the largest weighting of the Hang Seng Index, went up 0.99% to 133.3 HK dollars, lifting the index by 37.38 points alone.

China Mobile, the country's largest mobile phone operator and the market's largest stock measured by capitalization, inched up 0. 59% to 135.7 HK dollars, boosting the index by 20.91 points.

Energy companies headed towards different directions. CNOOC, China's largest offshore oil producer, was the market's top driving force by surging 4.98% to 13.92 HK dollars, elevating the index by 51.27 points alone. PetroChina, the country's largest oil producer, dipped 0.52% to 11.6 HK dollars. Sinopec, Asia's largest refiner, lost 2.66% to 8.06 HK dollars.

Hong Kong's property companies were mostly higher. SHK Properties, the largest house developer in Hong Kong, added 0.89% to 136 HK dollars. Cheung Kong, one of the biggest housing companies held by tycoon Li Ka-shing, gained 0.99% to 122.4HK dollars. Sino Land inched up 0.3% to 19.96 HK dollars. Henderson Land moved up 0.75% to 60.15 HK dollars. Hang Lung skid 0.67% to 29.5 HK dollars. New World Development rose 1.16% to 20.05 HK dollars. Hang Lung remained unchanged at 31.65 HK dollars.

Hong Kong Exchanges and Clearing Limited, the market's sole operator, skid 0.37% to 161.3 HK dollars.

China Enterprise Index, or H-shares, which was composed of 43 companies registered on the Chinese mainland, fell 24.98 points, or 0.18%, to close at 14,196.66 after the stock market in Shanghai lost 2.33% amid sell-off of heavyweights.

China's banking companies listed in Hong Kong all rose. Heavily traded ICBC, China's largest lender, rallied 0.81% to 6.2 HK dollars. Bank of China, the country's second largest bank, added 0.52% to 3.89 HK dollars. China Construction Bank, the third largest bank, advanced 2.22% to 6.91 HK dollars after its better-than-expected quarterly result. Bank of Communications gained 1.44% to 11.3 HK dollars. China Merchants Bank moved up 0.63% to 32 HK dollars.

China's insurers were lower. China Life, the country's largest life insurer, fell 1.63% to 33.25 HK dollars. Ping An lost 1.53% to 70.7 HK dollars. PICC P&C dropped 1.01% to 7.81 HK dollars. (7.8 HK dollars = 1 U.S. dollars)