China markets rise, energy shares lead on crude oil hike
China markets rose today, led by energy shares following the advance in crude oil prices overnight. The Shanghai Comprehensive Index added 1.4 percent to 2936.19. The Hang Seng Index added 0.8 percent to 21467.36. The Hang Seng China Enterprises Index advanced 1.1 percent to 12507.87.
Taiwan's TAIEX Index slid 0.04 percent to 7596.60.
Crude oil traded at US$73 a barrel in New York in after-hours trading, after settling yesterday at a seven-week high of US$73.27.
PetroChina Co. (SHA:601857; HKG:0857), world's largest oil producer, gained 1.1 percent in Shanghai and 2.5 percent in Hong Kong. Sinopec (SHA:601386; HKG:0386), Asia's largest refiner, advanced 1.2 percent in Shanghai and 1 percent in Hong Kong.
Mainland-listed coal producers gained 2.9 percent on average after coal prices at Qinhuangdao port rose for a fourth week.
China Shenhua Energy Co. (SHA:601088; HKG:1088), the largest, advanced 2.7 percent in Shanghai trading and 1.3 percent in Hong Kong. China Coal Energy Co. (SHA:601898; HKG:1898), the second-largest, rose 2.3 percent in Shanghai and 1.1 percent in Hong Kong.
Datong Coal Industry Co. (SHA:601001), the third-largest, climbed 5.9 percent. Yanzhou Coal Mining Co. (SHA:600188, HKG:1171), the sixth-largest, gained 3.9 percent in Shanghai and 1.9 percent in Hong Kong.
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