Hong Kong shares supported by energy producers

"Hong Kong shares supported by energy producers | AboutHK.Com - More Information About HK"

V. Phani Kuma, (MarketWatch)

Hong Kong stocks were restricted to a narrow range around break-even point early Friday, with energy producers such as Cnooc Ltd. helping to support the market, although banks and property developers fell after a sharp drop on Wall Street. The Hang Seng Index was up 0.1% at 20,747.01 after opening lower, while the Hang Seng China Enterprises Index was flat at 11,931.28. rose 1.5%, and PetroChina Co. gained 0.8% as crude-oil futures rose in New York trade. Ranking among losers, China Overseas Land & Investment Ltd. dropped 1.5%, and index-heavyweight HSBC Holdings PLC dropped 0.5%. The Shanghai Composite Index, meanwhile, dropped 0.5% to 2,552.91.