Hong Kong Stocks Gain After Strong U.S. Lead

MarketWatch Pulse

Taking a strong U.S. lead, Hong Kong stocks rebounded Thursday morning after a previous loss, with the Hang Seng Index rising 1.1%. Blue-chip stocks advanced across the board, with several index heavyweights posting solid gains. Telecoms company China Mobile Ltd. rose 1.2%, Sino-British banking giant HSBC Holdings PLC added 0.6%, and online major Tencent Holdings Ltd. tacked on 0.5%. Other top winners among index components included mainland developer China Resource Land Ltd. , rallying 3.3%, rival China Overseas Land & Investment Ltd. , jumping 2.9%, insurer AIA Group Ltd. , climbing 2.6%, and footwear retailer Belle International Holdings Ltd. , improving by 2.3%. Casino stocks bounced back, with Melco Crown Entertainment Ltd. advancing 2.4%, MGM China Holdings Ltd. rising 1.8%, and Galaxy Entertainment Group Ltd. up 1.4%. Over on the Chinese mainland, the Shanghai Composite Index traded 0.3% higher.

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