MW: Hong Kong shares rise on banks, energy producers
By V. Phani Kumar
HONG KONG (MarketWatch) -- Hong Kong shares climbed early Wednesday, with Chinese banks and property shares up modestly after a string of recent losses, and energy producers rising on the back of upbeat crude-oil prices. The Hang Seng Index (HK:HANGSENG 22,969, +347.57, +1.54%) added 0.5% to 22,731.27, while the Hang Seng China Enterprises Index gained 0.7% to 12,395.77. Shares of Cnooc Ltd. (HK:883 18.46, +0.46, +2.56%) (CEO 233.05, -0.71, -0.30%) added 1.3% and PetroChina Co. (PTR 126.10, -1.61, -1.26%) (HK:857 9.99, +0.22, +2.25%) rose 0.7% as crude-oil prices hovered around $92 a barrel, while Bank of China Ltd. (BACHY 12.82, -0.04, -0.31%) (HK:3988 4.07, +0.07, +1.75%) advanced 0.8% among banks. The Shanghai Composite Index (CN:SHCOMP 2,752, +18.54, +0.68%) slipped 0.1% to 2,729.38, unable to hold on to early gains amid policy tightening concerns even after falling in nine of shanthe previous 10 sessions.
