By V. Phani Kumar
HONG KONG (MarketWatch) -- Hong Kong shares raced ahead early Friday as a rebound on Wall Street following strong third-quarter economic data fed an across-the-board rally, with recently beaten-down property counters such as Sun Hung Kai Properties (HK:16 119.00, +6.50, +5.78%) (SUHJ.Y 14.86, +0.21, +1.43%) leading the advance. The benchmark Hang Seng Index rose 2.4% to 21,766.47 to snap out of a three-session losing streak, while the Hang Seng China Enterprises Index rose 2.6% to 12,784.95, also spurred by gains in China. SHK Properties rose 3.5% and China Overseas Land & Investment (HK:688 17.24, +0.88, +5.39%) jumped 4.7%, with energy producers and banks also posting solid gains. The Shanghai Composite, meanwhile, added 0.9%.
