Hong Kong Stocks Paced by HSBC Advance Amid Light Turnover
- Volume on Hang Seng Index 40% lower than 30-day average
- Cnooc leads gains after ending dispute with Husky Energy
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Hong Kong stocks rebounded after their steepest loss in five weeks amid lower-than-average turnover as HSBC Holdings Plc extended gains and oil prices climbed.
The Hang Seng Index rose 0.4 percent at the close, after sliding the most since June 24 on Wednesday. Volume on the measure was 40 percent lower than the 30-day average. HSBC headed for its biggest two-day gain in six weeks after announcing a $2.5 billion share buyback. Cnooc Ltd. jumped the most on the gauge as U.S. oil traded around $41 a barrel and the company ended a dispute over gas prices with Husky Energy Inc. The Shanghai Composite Index rose in afternoon trading to gain 0.1 percent.