MW: Hong Kong climbs on metal, local property shares
By V. Phani Kumar
HONG KONG (MarketWatch) -- Hong Kong shares climbed in early trade Thursday after a Wall Street advance overnight, with metal and local property shares leading the rise, although some mainland Chinese developers declined on worries Beijing might tighten policy further. The Hang Seng Index (HK:HANGSENG 22,939, -30.42, -0.13%) added 0.3% to 23,034.97, and the Hang Seng China Enterprises Index advanced 0.4% to 12,562.43, ahead of the release of HSBC's purchasing managers' index data for December. Shares of Zijin Mining Group Co. (HK:2899 7.08, +0.09, +1.29%) (ZIJMF 0.92, +0.03, +3.37%) gained 1.4% as spot gold prices scaled the $1,410 an ounce mark, while Cheung Kong Holdings Ltd. (HK:1 121.40, -0.20, -0.16%) (CHEUY 15.60, +0.49, +3.24%) was up 1% among local developers. China Resoruces Land Ltd. (HK:1109 14.04, 0.00, 0.00%) (CRBJY 0.00, 0.00, 0.00%) slipped 0.1% and Agile Property Holdings Ltd. (HK:3383 12.00, +0.20, +1.70%) (AGPYY 0.00, 0.00, 0.00%) dropped 0.7% among mainland property developers. China's Shanghai Composite Index (CN:SHCOMP 2,765, +13.13, +0.48%) fell 0.4% to 2,741.53.
