MW: Hong Kong rebounds on China banks, energy stocks
By V. Phani Kumar
HONG KONG (MarketWatch) -- Hong Kong shares bounced back early Tuesday after a sharp fall in the previous session and an overnight rebound on Wall Street, with Bank of China Ltd. leading mainland lenders ahead of its 2009 earnings later in the day. The Hang Seng Index gained 0.8% to 21,093.85 and the Hang Seng China Enterprises Index added 0.8% to 12,099.54. Bank of China (CN:601988 4.16, 0.00, 0.00%) (HK:3988 4.07, +0.10, +2.52%) (BACH.Y 13.05, -0.15, -1.14%) added 1% and China Construction Bank Corp. (CN:601939 5.54, -0.06, -1.07%) (HK:939 6.20, +0.06, +0.98%) (CICHF 0.78, -0.03, -3.13%) advanced 0.8%. Energy sector stocks also advanced as crude-oil prices advanced on Nymex, with Cnooc Ltd. (HK:883 12.56, +0.24, +1.95%) (CEO 161.08, -0.30, -0.19%) rising 1.8%. China's Shanghai Composite advanced 0.1% to 3,076.15, erasing early losses.
