Hong Kong shares close up

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HongKong111

Hong Kong shares bounced further on Monday from one-month lows seen last week, helped by strength in energy counters as higher oil prices and Kunlun Energy's surprise inclusion in the Hang Seng Index helped buoy interest in riskier counters.

The Hang Seng Index closed up 0.5 percent at 21,262.1, rising for a second session after hitting a one-month low last Thursday. The China Enterprises Index of the top Chinese listings in Hong Kong also rose 0.5 percent.

On the mainland, the CSI300 Index slipped 0.1 percent, while the Shanghai Composite Index closed up 0.1 percent at 2,017 after earlier hitting 1,999.1, its lowest intra-day level since early 2009.

HIGHLIGHTS:

* Chinese natural gas provider Kunlun Energy rose 3.1 percent, touching a record high in early trade, after the Hang Seng Index manager said the Chinese energy firm will become the 50th component of the benchmark index from December 10.

* Ping An Insurance sank 1.9 percent after HSBC Holdings confirmed it was in talks to sell its $9.3 billion stake in China's second-largest insurer, stepping up a programme by Europe's largest bank to shed non-core parts of its business to boost profitability.

* Chinese consumer counters were key sectoral underperformers after third-quarter corporate earnings from department store operator Parkson Retail Group and the country's top instant noodle producer Tingyi Holdings both disappointed. - Reuters


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