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HK shares up 2 pct on refiners & Cathay Pacific

Thu Jun 19, 2008 10:42pm EDT

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HONG KONG, June 20 (Reuters) - Hong Kong shares extended gains to rise more than 2 percent on Friday, with Chinese refiners surging on a domestic fuel price hike and Cathay Pacific (0293.HK) rallying on lower crude oil prices.

China

At 0233 GMT, the Hang Seng Index .HSI was up 464.91 points at 23,262.52

The China Enterprises Index .HSCE gained 1.9 percent.

Asia's largest refiner, Sinopec Corp (0386.HK), jumped 4.1 percent, its subsidiary Sinopec Shanghai Petrochemical (0388.HK) surged 7.9 percent and PetroChina (0857.HK) gained 4.7 percent.

Cathay Pacific Airways rallied 4.1 percent after U.S crude oil prices eased nearly $5 per barrel overnight on fears of lower demand from China. (Reporting by Parvathy Ullatil; Editing by Anne Marie Roantree)

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