By V. Phani Kumar
HONG KONG (MarketWatch) -- Hong Kong stocks were restricted to a narrow range around break-even point early Friday, with energy producers such as Cnooc Ltd. helping to support the market, although banks and property developers fell after a sharp drop on Wall Street. The Hang Seng Index was up 0.1% at 20,747.01 after opening lower, while the Hang Seng China Enterprises Index was flat at 11,931.28. Cnooc (HK:883 13.50, -0.02, -0.15%) (CEO 171.92, -4.27, -2.42%) rose 1.5%, and PetroChina Co. (HK:857 9.00, -0.10, -1.10%) (PTR 114.53, -1.78, -1.53%) gained 0.8% as crude-oil futures rose in New York trade. Ranking among losers, China Overseas Land & Investment Ltd. (HK:688 15.76, -0.12, -0.76%) (CAOVY 0.00, 0.00, 0.00%) dropped 1.5%, and index-heavyweight HSBC Holdings PLC (HK:5 75.25, -1.15, -1.51%) (HBC 47.88, -0.66, -1.36%) dropped 0.5%. The Shanghai Composite Index, meanwhile, dropped 0.5% to 2,552.91. |
