Market Review

Hong Kong stocks rose on Tuesday for the sixth successive day, as large cap stocks saw broad gains ahead of the expiry of July futures contracts. The HSI closed 0.64% higher at 20,973.39, a few points below its 250-day moving average. The HSCEI rose 0.5% at 11,931.12. Large cap stocks gained as traders adjusted positions ahead of the expiration, with internet firm Tencent (700 HK), the top gainer, rising 3.4% to HK$143.0, followed by steel-to-property conglomerate Citic Pacific (267 HK), which rose 3% to HK$16.06.Shares of index heavyweight HSBC (5 HK) rose 1.7% to HK$78.85.Shares of China State Construction(3331 HK)  rose 5.7% to HK$3.32 after reports that it had successfully bid for a number of government projects in Hong Kong valued at about HK$3bn.