Hong Kong Stocks Gain on Higher Oil Price, China Property Plans

By Shani Raja

Jan. 14 (Bloomberg) -- Hong Kong stocks rose for the first time in seven days, led by energy producers and developers, as oil prices rebounded and China unveiled plans to boost the nation’s property market.

Cnooc Ltd., China’s biggest offshore oil producer, rallied 3.2 percent after crude climbed for the first time in six days. Sun Hung Kai Properties, Hong Kong’s No. 1 property developer by market value, rose 3 percent. HSBC Holdings Plc, Europe’s largest bank by market value, fell 1.9 percent after Morgan Stanley said the company may cut its dividend in half.

The Hang Seng Index added 136.77, or 1 percent, to 13,804.82 as of 10:25 a.m. local time, its first advance since Jan. 5. The Hang Seng China Enterprises Index, which tracks Chinese companies’ so-called H shares, advanced 2.4 percent to 7,249.39.

To contact the reporter on this story: To contact the reporter on this story: Shani Raja in Sydney at sraja4@bloomberg.net.