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Hong Kong stocks rise, led by China Mobile

Mon May 26, 2008 10:01pm EDT

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HONG KONG, May 27 (Reuters) - Hong Kong stocks opened up 0.46 percent on Tuesday, following gains in overseas markets, with China Mobile leading the rise following a recent sell-off after Beijing unveiled a long-awaited sector revamp.

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But worries over inflation and the health of the global economy could cap the upside, market watchers said.

The benchmark Hang Seng Index .HSI opened up 111.74 points at 24,239.05, led by a 0.44 percent gain in China Mobile (0941.HK).

The China Enterprises Index of Hong Kong-listed companies .HSCE, or H shares, opened up 0.63 percent at 13,304.58. (US$1=HK$7.8) (Reporting by Donny Kwok; Editing by Anne Marie Roantree)

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