Hong Kong shares give up early gains, CATL surges 9pc

Hong Kong shares pulled back all early gains and closed lower on Wednesday, as investors weighed on the fluctuating oil prices.

The benchmark Hang Seng Index inched down 61 points, or 0.24 percent, to 25,898, with a full-day turnover of HK$254.4 billion.

The Hang Seng Tech Index went down 0.11 percent to 5,054.

CATL (3750) outpaced the market, surging 9 percent to a three-month high - the best performance among blue chips.

Oil majors CNOOC (0883) and PetroChina (0857) reversed previous losses in the morning session and closed 3.7 percent and 2.3 percent higher on the rebounding oil prices.

NIO (9866) recorded gains of 14 percent, boosted by its first-ever quarterly profit.

Cathay Pacific Airways (0293) rose 4.4 percent as its newly released result surpassed market expectations.

Laopu Gold (6181) advanced 2.3 percent after forecasting over two times growth in its full-year net profit.

In mainland China, the Shanghai Composite Index inched up 0.25 percent to 4,133, and the Shenzhen Component Index increased 0.78 percent to 14,465.