(Yicai Global) Dec. 27 -- The Hong Kong stock market opened higher as mainland-based oil companies and information tech firms took from US market rallies.
The Hang Seng Index opened 0.65 percent up. The Hang Seng China Enterprises Index, which involves Chinese firms that are listed in Hong Kong, began the trading day 0.89 percent higher. Among them, China Petroleum & Chemical [HK:0386] rose 2.7 percent to HKD6.04 (USD70 cents). China National Offshore Oil [HK: 0883] climbed 1.5 percent to HKD11.88.
Oil prices in the US jumped over 10 percent and Brent crude rose 9.57 percent yesterday, which was the strongest one-day gain for both of them since the Organisation of the Petroleum Exporting Countries decided to cut production in November 2016.
Chinese information tech firms also logged gains. Transport and takeout platform operator Meituan-Dianping [HK:3690] started the day 5 percent higher. Drug tracker Alibaba Health Information Technology [HK: 0241] and handset component maker BYD Electronic [HK:0285] both opened nearly 2 percent up.
Editor: Emmi Laine