MW: Commodity shares lift Hong Kong, but Shanghai down
By V. Phani Kumar
HONG KONG (MarketWatch) -- Hong Kong shares rebounded early Tuesday, as resource shares rode higher on the back of gains in commodity prices and on Wall Street. The Hang Seng Index added 0.8% to 21,996.08 and the Hang Seng China Enterprises Index advanced 1% to 12,879.10. Shares of Cnooc Ltd. (HK:883 12.92, +0.68, +5.56%) (CEO 161.24, +5.79, +3.73%) rose 2.9%, and Zijin Mining Group Co. Ltd. (HK:2899 8.09, +0.67, +9.03%) (ZIJMF 0.98, +0.05, +4.84%) climbed 3.2%, while Aluminum Corp. of China Ltd. (HK:2600 9.49, +0.79, +9.08%) (ACH 28.60, +1.35, +4.95%) added 2.2%. Shares of Hutchison Telecommunications International Ltd. (HK:2332 1.65, +0.04, +2.48%) (HTELF 0.22, +0.01, +2.33%) remained on trading halt amid reports its parent Hutchison Whampoa Ltd. (HK:13 56.20, +2.15, +3.98%) (HUWHF 7.10, +0.70, +10.94%) may take it private. Hutchison Whampoa shares were up 2.9%. Stock gains on the mainland were limiting the upside, with the Shanghai Composite slipping 0.2% after a higher opening.
