China markets up led by energy shares
China markets rose, with Hong Kong closing 2.1 percent higher and the Shanghai Composite up 1.7 percent with gaining shares outnumbered losers 742 to 107.
The China Enterprises Index, which represents top Hong Kong listed mainland Chinese stocks, was up 2.48 percent. The Shenzhen Composite Indexfinished , which tracks the smaller domestic market, was up 2.1 percent.
Taiwan's TAIEX index was lifted 1.2 percent on the appointment of Wu Den-yih and Eric Chu as the new premier and vice-premier following the resignation of Liu Chao-shiuan yesterday.
The Hang Seng Composite Energy Index rose 2.9 percent with the big three blue-chip state energy companies making solid gains.
Petrochina (HK:0857, SH:601857) was up 3.2 percent in Hong Kong and 0.5 in Shanghai. Sinopec (HK:0386, SH:600688) rose 2.5 percent in Hong Kong and 3.5 percent in Shanghai. CNOOC (HK:0883) finished up 3 percent in Hong Kong.
Coal producers led in Shanghai after a mining accident in Henan provice killing at least 35 people led to speculation that the government would hasten the closure of smaller mines and therefore boost earnings of large producers.
Shenhua Energy (SH:601088, HK:1088), the biggest, rose 3.9 percent in Shanghai and 3.5 percent in Hong Kong. Datong Coal Industry Co (SH:601001) jumped 6.59 percent and Pingdingshan Tianan Coal Mining Co. (SH:601666) rose 6 percent. In Hong Kong, Dynamic Energy Holdings (HK:5780) was up 10.5 percent.
Related news
- Shenzhen up 1.1pct as brokerages support mainland markets while Hong Kong falls on real estate concerns
- Mainland and Hong Kong markets fall most in weeks
- Mainland stock mixed, pharma shares up as U.S. declares H1N1 national emergency
- China markets rise as Shenzhen launches Growth Enterprise Board and hot money starts flowing in again
- China markets slip again despite 8.9pct growth figure for third quarter
- China markets down on profit taking and crude oil drop
- China markets up as Hang Seng property index surges 5.8pct and mainland financials rise gain 2pct
