Hang Seng closes above 25K

Hong Kong share market closed higher on Tuesday, 19 August 2014, on the back of strong buying in last trading hour, amid signs geopolitical tensions are easing. The gain was led by China Resources Land after the developer agreed to buy assets from its parent, while Galaxy Entertainment Group surged after the casino operator beat earnings estimates. The Hang Seng Index climbed 0.7%, or 167.49 points, to 25122.95, a highest level since 21 May 2008. Market turnover stood at HK$72.37 billion, up from HK$69.7 billion on Monday.

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