HSI Gains As Energy Stocks Lift Asian Markets

A rally in energy firms on the back of rising oil prices helped Hong Kong stocks to a strong morning close on Wednesday, with focus on a Federal Reserve policy decision later in the day.

The Hang Seng Index climbed 1.2 percent, to 31,931 by the break.

On the mainland, the Shanghai Composite Index rose 0.6 percent, to 3,311 and the Shenzhen Composite Index climbed 0.6 percent, to 1,884.

Most other Asian markets rallied on Wednesday, as energy firms gained after data indicated a jump in US demand and Opec provided an optimistic outlook for supplies.

CNOOC, PetroChina and Sinopec rose in Hong Kong, all up more than 3 percent, while Sydney-listed Santos was more than 1 percent higher and Woodside Petroleum gained 0.4 percent.

The energy sector boosted markets, with Singapore putting on 0.2 percent while Seoul, Wellington and Taipei were also well up.

Tokyo was closed for a public holiday.

Sydney put on 0.2 percent but gaming firm Crown Resorts fell more than 1 percent on news that tycoon James Packer had quit as director as he battles "mental health issues". (AFP)

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