Hong Kong, Shanghai Stocks End Up After Oil Agreement

Hong Kong, Shanghai stocks end up after oil agreement

HONG KONG, Dec 1, (UrduPoint / Pakistan Point News - 01st Dec, 2016 ) - Hong Kong and Shanghai stocks rose Thursday, led by energy firms as OPEC's deal to cut oil output sent the price of the commodity soaring, while dealers also welcomed data pointing to a surge in Chinese factory activity.

The Hang Seng Index rose 0.39 percent, or 88.46 points, to close at 22,878.23. The benchmark Shanghai Composite Index increased 0.72 percent, or 23.28 points, to 3,273.31 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 0.61 percent, or 12.78 points, to 2,119.69.