MW: Hong Kong shares rise in early trade on U.S. cues
By V. Phani Kumar
HONG KONG (MarketWatch) -- Hong Kong shares climbed early Wednesday after a solid rally on Wall Street overnight and a hint of progress on U.S. debt-ceiling talks, with Chinese property developers and banks leading the advance. The Hang Seng Index HK:HSI +0.10% rose 0.6% to 22,037.23 and the Hang Seng China Enterprises Index gained 0.8% to 12,393.77. China Resources Land Ltd. HK:1109 +2.88% CRBJY 0.00% rose 1.9% and Bank of Communications Co. HK:3328 +0.91% BCMXY +0.37% added 1.5% on relief buying after U.S. President Barack Obama cited progress on talks to lift the U.S. debt ceiling. Upbeat results from Apple Inc. AAPL +0.82% and other U.S. companies also helped improve sentiment, pushing Li & Fung Ltd. HK:494 +1.63% 2.2% higher and Esprit Holdings Ltd. ESPGY +1.86% HK:330 +1.64% by 1.6%. China's Shanghai Composite CN:000001 -0.33% rose 0.4% to 2,807.45.
