HK Stocks Rise As Asian Energy Companies Rally

Hong Kong stocks went into the break on a healthy note on Thursday as surging oil prices boosted energy firms.

The Hang Seng Index rose 0.9 percent, to 30,805 by the break.

On the mainland, the Shanghai Composite Index rose 0.2 percent to 3,165, while the Shenzhen Composite Index added 0.1 percent to 1,836.

Crude prices continued to rally, propelling Asian energy firms and equity markets, as rising demand and Donald Trump's decision to tear up the Iran nuclear deal point to a thinning of supplies.

The gains fed into energy firms with Woodside Petroleum surging 4.5 percent in Sydney, CNOOC 3 percent in Hong Kong and Tokyo-listed Inpex piling on 3.2 percent.

Tokyo ended the morning session up 0.2 percent.

Sydney and Seoul each added 0.3 percent, while Wellington, Taipei and Manila were also in positive territory.

Trade in Malaysian equities and the Malaysian markets are closed for the general election. (AFP)

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