HONG KONG, March 8 Hong Kong shares rose more
than 1 percent on Friday, lifting both key indexes up for the
week, with growth-sensitive counters buoyed by Wall Street's
strength and an unexpected surge in Chinese exports.
The Hang Seng Index closed up 1.4 percent at 23,092
points. The China Enterprises Index of the leading
Chinese listings in Hong Kong climbed 1.5 percent. They each
rose 0.9 and 1.2 percent, respectively, this week.
The CSI300 index of the leading Shanghai and
Shenzhen A-share listings closed down 0.5 percent at 2,606.9,
while the Shanghai Composite Index slipped 0.2 percent.
This week, they slid 2.3 percent and 1.7 percent, respectively.
* China coal counters surged, paring deep losses on the
year. In a note dated March 7, Morgan Stanley analysts said
there is a limited downside to current coal prices, expecting
the demand-supply situation to tighten. This would augur well
for coal producers since sales volumes are index linked,
implying the end of annual fixed price contracts. Weekly and
monthly pricings are being discussed, but this will help enhance
the margins for coal producers.
* Chinese oil giant CNOOC Ltd climbed 2.3 percent
on higher oil prices and after the $1 billion deepsea drilling
rig in the South China Sea it owns returned to work after nearly
two months of repairs.
* Data on Friday showed China's exports dramatically
exceeded expectations in February while imports were much weaker
* China data on inflation, urban investment, industrial
output and retail sales are due on Saturday, with monthly money
supply and loan growth figures expected from Sunday.