HSI Soars 247 pts; CN Financials, Energy Shrs Balloon

The Hong Kong bourse was buoyed by the sharp uptick of Chinese banks and oil stocks. $Hang Seng Index (800000.HK)$ , which has once stretched its rise to 272 pts, closed at 20,297, elevating by 247 pts or 1.24%; $Hang Seng China Enterprises Index (800100.HK)$ thrived 99 pts or 1.47% to close at 6,897; $Hang Seng TECH Index (800700.HK)$ climbed 18 pts or 0.48% to close at 3,914. The full-day turnover totaled at $108 billion.

Chinese banks spearheaded a steep rally of the broader market as Chinese media reported that the Shanghai Stock Exchange is planning to convene a seminar on exploring investment values in SOEs and propelling the recovery of SOE valuations on Thursday. $ICBC (01398.HK)$ and $BANK OF CHINA (03988.HK)$ rose 3.7-4.6%. $BQD (03866.HK)$ ascended 7.2%.

Energy and related stocks were likewise ebullient. $SINOPEC CORP (00386.HK)$ , $CNOOC (00883.HK)$ and $YANKUANG ENERGY (01171.HK)$ swelled 5.8-6.7%. $PETROCHINA (00857.HK)$ , $CHINA OILFIELD (02883.HK)$ , $CHINA SHENHUA (01088.HK)$ and $CHINA COAL (01898.HK)$ surged 3.9-4.6%.