MW: Hong Kong shares rebound as banking stocks rise
HONG KONG (MarketWatch) -- Hong Kong shares staged a strong rebound early Tuesday to snap out of a four session losing streak, with HSBC Holdings as well as Chinese banks leading the advance following sharp overnight gains on Wall Street. The Hang Seng Index rose 1.8% to 20,950.45, while the Hang Seng China Enterprises Index added 2% to 11,987.90. Shares of heavyweight HSBC (HK:5 89.75, +2.65, +3.04%) (HBC 57.56, +1.12, +1.98%) gained 2.2%, with Bank of China (HK:3988 4.12, +0.09, +2.23%) and Bank of Communications (HK:3328 9.64, +0.26, +2.77%) adding 2% each. The rise came in spite of weakness in shares traded on the mainland, where the Shanghai Composite recently dropped 0.2% to 2,759.51.
