There's short-term speculation on aviation as gains in other sectors, like financial services, present a chance to increase exposure in other sectors.

Henderson Land's strong gains were due mainly to speculation that it might privatize unit Hong Kong & China Gas and launch a real estate investment trust.

I won't be surprised to see more falls in the property and financial sectors even if presales of apartments continue to do well. Investors are worried now by prospects of rate hikes larger than those in previous months.

Funds' selective buying helped support the index. The market extended its gains in late trade also due to some futures-related trading.

The local market continued to post losses as it was affected by the retreat of Wall Street and the Japanese market.

The market was largely supported by the property sector as interest rate worries eased after the release of the US Fed minutes.