LOS ANGELES: Hong Kong stocks wandered a little higher Wednesday morning in quiet trade, with the market due to close at midday for the start of the Lunar New Year holiday.
The Hang Seng Index HSI, +0.19% added 0.2%, with Shanghai and other mainland China markets already closed for the week. Energy shares were among the stand-outs, as oil futures extended their recent rebound overnight. Shares of Cnooc Ltd. 0883, +2.71% CEO, +1.42% rose 1.3%, while PetroChina Co. 0857, +3.10% 601857, +0.09% PTR, +1.88% improved by 1.8% and China Petroleum & Chemical Corp. (a.k.a. Sinopec) 0386, +4.65% SNP, +3.73% climbed 2.7%. Stock in MGM China Holdings Ltd. 2282, +1.46% MCHVF, -2.01% added 1.9% after it reported drops in quarterly revenue and profit, but at least said full-year pre-tax earnings rose mildly. Other casino names also advanced, with index components Sands China Ltd. 1928, +1.66% and Galaxy Entertainment Group Ltd. 0027, -0.11% GXYEF, -0.46% up 1% and 0.8%, respectively, while Wynn Macau Ltd. 1128, +1.27% WYNMF, +0.32% rose 1.7%. On the downside, news that financial-services company Get Nice Holdings Ltd. 0064, -4.23% was planning a discounted rights issue (21% below its last close) sent that stock plunging 8.5%.
