Dec 1 Hong Kong stocks closed at their highest
level in three weeks on Thursday, buoyed by a surge in energy
sector shares after OPEC agreed to a deal to reduce production,
sending oil prices soaring.
The benchmark Hang Seng index pared early gains but
still ended up 0.4 percent at 22,878.23 points, while the Hong
Kong China Enterprises Index rose 0.6 percent to 9,892.31
The world's largest oil exporters agreed on Wednesday to cut
output for the first time in eight years to ease a global supply
glut that had halved the value of a barrel of crude.
Oil prices climbed over 10 percent after the OPEC
Energy shares rallied 3.6 percent, with index
heavyweight CNOOC Ltd soaring over 6 percent.
The market also benefitted from some support from Chinese
stock markets which rose on better-than-expected manufacturing
Sectors were mixed, with strength in energy and
telecommunication shares offseting weakness in services
and utilities sector.
(Reporting by Jackie Cai and John Ruwitch; Editing by Kim