Hong Kong Stocks Extend Gains On U.S. Cues | Fox Business

Tracking overnight gains in the U.S., Hong Kong stocks rose further at the start of trading on Friday, with the Hang Seng Index up 1.3%. Over on the Chinese mainland, the Shanghai Composite Index slipped 0.2%. Banks posted broad-based gains, with index heavyweight HSBC Holdigns plc rising 1%. Among mainland Chinese banks, China Merchants Bank Co., Ltd. climbed 2.1%, Agricultural Bank of China Ltd. moved up 1.6%, and China Citic Bank Corporation Ltd. headed higher 1.2%. Tech stocks advanced, with online major Tencent Holdings Ltd. surging 4%. Online game developer Baioo Family Interactive Ltd. jumped 3.2%, software developer Kingsoft Corp. Ltd. gained 2.8%, and rival Kingdee International Software Group Co. Ltd. traded 0.9% higher. Energy names were mixed, as PetroChina Co. Ltd. declined 2.3%, Cnooc Ltd. dropped 0.4%, while China Petroleum & Chemical Corporation edged up 0.2%. Over on the Chinese mainland, the Shanghai Composite Index slipped 0.2%.