Hong Kong stocks up on local banks, energy shares

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Hong Kong stocks up on local banks, energy shares
HONG KONG (MarketWatch) -- Hong Kong shares climbed in early trading Monday, in line with a broad recovery from early losses in regional markets, as investors looked for bargains in beaten-down local banks and Chinese energy stocks. The Hang Seng Index rose 0.6% to 19,513.13 and the Hang Seng China Enterprises Index gained 1% to 10,381.40. Shares of HSBC Holdings PLC rose 0.6% and BOC Hong Kong Holdings Ltd. jumped 3%, while Cnooc Ltd. climbed 1.4% and China Coal Energy Co. spiked 3.4%. But ranking among decliners, China Construction Bank Corp. lost 0.8% on profit-taking after its half-yearly results were in line with expectations. Shares of China Unicom Hong Kong Ltd. tumbled 3.1% on disappointment over its July subscriber additions. China's Shangahi Composite rose 0.4% to 2,544.84.