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    Monday, February 08, 2010

    Property, Commodity Stocks Pace Hong Kong's Bounce

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    By V. Phani Kumar
    MarketWatch Pulse
       

      HONG KONG -- Hong Kong shares bounced early Tuesday as property developers and commodity stocks marched on bargain buying after their recent losing streak and in spite of sharp overnight losses on Wall Street. The Hang Seng Index rose 0.5% to 19,650.14 after dropping in the previous three sessions, and the Hang Seng China Enterprises Index gained 0.9% to 11,089.93. Shares of Cnooc Ltd. climbed 2.1% and Hang Lung Propertites Ltd. added 1.5%, though HSBC Holdings Plc.'s 1.4% drop on weak overnight cues limited the upside. China's Shanghai Composote added 0.5% to 2,949.40.

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