Hong Kong Stocks Swing Between Gains, Loss as Cnooc Drops

Hong Kong stocks swung between gains and losses ahead of a private report on China’s manufacturing industry tomorrow, and after the International Monetary Fund raised its forecast for global growth. Cnooc Ltd. sunk for a second day.

The Hang Seng Index (HSI) rose 0.1 percent to 23,044.16 as of 9:50 a.m. in Hong Kong, after falling as much as 0.5 percent. The Hang Seng China Enterprises Index (HSCEI) of mainland companies increased 0.1 percent to 10,223.03. Cnooc, China’s biggest offshore energy explorer, slid 2 percent after tumbling 6.3 percent yesterday, its biggest drop since 2011, on announcing a 2014 output estimate that was less than its five-year average growth target.

To contact the reporter on this story: Kana Nishizawa in Hong Kong at knishizawa5@bloomberg.net

To contact the editor responsible for this story: Sarah McDonald at smcdonald23@bloomberg.net

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