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HK shares gain surge 5.5 pct, led by CNOOC

Tue Oct 28, 2008 11:50pm EDT

Stocks

   

HONG KONG, Oct 29 (Reuters) - Hong Kong shares extended gains to rally more than 5.5 percent on Wednesday as energy counters surged on strong results from coal miner China Shenhua (1088.HK) and oil producer CNOOC (0883.HK), and higher crude oil prices.

China

At 0340, the benchmark Hang Seng Index .HSI was 668.06 points higher at 13,264.35 after opening up 1.7 percent

China's top offshore oil producer, CNOOC, soared 17.9 percent after posting a healthy increase in its production and revenues for the third quarter.

The China Enterprises Index .HSCE of top locally listed mainland Chinese companies had risen 7.2 percent to 6,092.41.

China Shenhua Energy (1088.HK), the world's most valuable coal moner, rallied 16 percent after announcing a 48 percent increase in third quarter net profit.

(Reporting by Parvathy Ullatil; Editing by Anne Marie Roantree)

China


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