Hong Kong advances as resource stocks surge

"Hong Kong advances as resource stocks surge | AboutHK.Com - More Information About HK"

MarketWatch

Hong Kong shares advanced early Friday as a strong overnight rally on Wall Street encouraged risk appetite, with resource sector shares such as Cnooc Ltd. posting especially robust gains on commodity price increases. The Hang Seng Index advanced 2% to 19,816.91 and the Hang Seng China Enterprises Index added 2.5% (HK:883 12.34, +0.32, +2.66%) (CEO 156.54, -4.09, -2.55%) and PetroChina Co. Ltd. (HK:857 8.49, +0.29, +3.54%) (PTR 107.30, -1.65, -1.51%) rallied 3.1% as crude-oil prices jumped over $75 a barrel on Globex, with Aluminum Corp. of China Ltd. (HK:2600 6.69, +0.22, +3.40%) (ACH 21.00, -0.62, -2.87%) rising 3.6%. Leading lenders, Bank of Communications Co. (HK:3328 8.25, +0.30, +3.77%) (BCMXY 25.81, +1.61, +6.65%) climbed 3.4% and HSBC Holdings PLC (HK:5 71.60, +1.50, +2.14%) (HBC 45.36, -1.12, -2.41%) climbed 2.3%. China's Shanghai Composite index advanced 0.7% to 2,674.03.