Energy stocks rise in HK on higher oil prices

Business | 4 May 2021 1:19 pm

Hong Kong stocks climbed on Tuesday, with energy shares leading gains, buoyed by rising crude oil prices as easing coronavirus disease curbs in the U.S and Europe raised demand growth hopes, Reuters reports.

By the midday break, the benchmark Hang Seng index was up by 71.09 points or 0.25 percent at 28,428.63, and was set to snap two straight sessions of decline.

The top gainer on the Hang Seng was PetroChina Co, rising by 3.55 percent, while the biggest loser was WuXi Biologics (Cayman) Inc, falling by 2.4 percent.

The Hang Seng China Enterprises index edged up by 0.1 percent, at 10,723.4.

The sub-index tracking energy shares won 2.1 percent, while IT stocks slid by 0.15 percent, financials inched up by 0.3 percent and the property sector edged up by 0.02 percent.

The Hang Seng Tech index was up by just 0.4 percent.

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May 2021

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