By V. Phani Kumar
HONG KONG (MarketWatch) -- Hong Kong shares rebounded on the back of a rise in resource and banking sector stocks as risk appetite improved after tensions eased on the Korean peninsula and on broad overnight gains on Wall Street. The benchmark Hang Seng Index (HK:HANGSENG 22,974, +334.62, +1.48%) rose 0.3% to 22,715.30 and the Hang Seng China Enterprises Index added 0.3% to 12,448.66. Shares of Aluminum Corp. of China Ltd. (ACH 22.43, -0.11, -0.49%) (HK:2600 7.02, +0.08, +1.15%) added 1.2% and PetroChina Co. (PTR 124.97, +1.33, +1.08%) (HK:857 9.90, +0.17, +1.75%) climbed 0.8%, with Bank of Communications Co. (HK:3328 7.84, +0.16, +2.08%) (BCMXY 25.03, 0.00, 0.00%) up 1% and Bank of East Asia Ltd. (HK:23 33.05, +0.80, +2.48%) (BKEAY 4.15, -0.01, -0.24%) rising 1.2%. China Unicom Hong Kong Ltd. (CHU 15.00, +0.31, +2.11%) (HK:762 11.58, -0.06, -0.52%) dropped 2.8% after reporting an unimpressive increase in subscribers in November. China's Shanghai Composite Index (CN:SHCOMP 2,904, +51.20, +1.80%) added 0.3% to 2,860.19.
