Hong Kong stocks edge up, led by energy sector

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Hong Kong stocks edge up, led by energy sector
from MarketWatch.com - MarketPulse
HONG KONG (MarketWatch) -- Hong Kong stocks rose early Monday to extend Friday's modest advance, with Kunlun Energy Co. climbing to lead the energy sector higher on news it was set to be included in the benchmark Hang Seng Index in December. The Hang Seng Index rose 0.5% to 21,271.20 and the Hang Seng China Enterprises Index added 0.7% to 10,314.72. Shares of Kunlun climbed 5.8% on news it'll become the Hang Seng Index's 50th constituent with effect from Dec. 10. Other energy shares also rallied as New York crude-oil prices extended gains to edge closer to $88 a barrel, with Cnooc Ltd. rising 1.5% and PetroChina Co. climbing 1.4%. Other resource shares also advanced, with China Gold International Resources Corp. climbing 2.4% and Zijin Mining Group Co. adding 1.3%. On the downside, Sun Hung Kai Properties Ltd. fell 1.9% as the stock began trading without rights to dividend. Auto maker BYD Co. fell 0.4% on news it will be excluded from the Hang Seng China Enterprises Index. China's Shanghai Composite slipped 0.4% to 2,006.84.