Hong Kong stocks shoot higher in early trade

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Hong Kong stocks shoot higher in early trade
LOS ANGELES (MarketWatch) -- Hong Kong stocks joined a global rebound early Tuesday, with recently beleaguered resource and financial shares among the leading gainers. The Hang Seng Index jumped 2.4% to 17,819.92 in the early minutes, while the Hang Seng China Enterprises Index added 3.5%. In the resource space, Aluminum Corp. of China Ltd., or Chalco rose 4.2%, Jiangxi Copper Co. soared 7.8%, and Angang Steel Co. improved by 5%. Among the banks, China Merchants Bank Co. rose 3.3%, Agricultural Bank of China Ltd. added 4.6%, and China Citic Bank Corp. was up 3.4%. Exporters also shot higher, with Esprit Holdings Ltd. rebounding 5.6% and Foxconn International Holdings Ltd. improving by 5.5%. Shares of Lenovo Group Ltd. traded up 4% after it announced a notebook-computer joint venture with Taiwan's Compal Electronics Inc. . Over on the Chinese mainland, shares also drove higher, with the Shanghai Composite up 0.7%.