HK stocks rise as oil shares, Alibaba gain

HONG KONG, May 7 (Reuters) - Hong Kong stocks opened up 0.44
percent on Wednesday, tracking gains in regional shares, with
Chinese offshore oil producer CNOOC Ltd (0883.HK: Quote, Profile, Research, Stock Buzz) leading the
rise after crude prices hit another record.

Shares in Alibaba.com Ltd (1688.HK: Quote, Profile, Research, Stock Buzz) jumped 4.4 percent after
the top Chinese e-commerce firm posted forecast-beating quarterly
earnings on strong demand for online trade and better profit
margins.

The benchmark Hang Seng Index .HSI opened up 0.44 percent
at 26,377.99 points.

The China Enterprises Index of Hong Kong-listed mainland
companies .HSCE, or H shares, had risen 0.76 percent as of 0203
GMT.
(US$1=HK$7.8)
(Reporting by Judy Hua; Editing by Anne Marie Roantree)