Hong Kong Stocks Rise In Thin Trade, With Banks Up

Hong Kong stocks rose in light volume early Monday, as recently battered bank shares rebounded in a shortened trading day ahead of the two-day Christmas holiday.

The Hang Seng Index gained 0.3% to 22,568.19, while the Hang Seng China Enterprises Index added 0.8%. Over on the Chinese mainland, where the markets will remain open all week, the Shanghai Composite Index improved by 0.4%. Banks gained ground, as HSBC Holdings PLC rose 0.6%, Agricultural Bank of China Ltd. added 1.3%, Industrial & Commercial Bank of China Ltd. climbed 1.1%, and China Merchants Bank Co. gained 1.7%.

The lenders’ advance was more muted in Shanghai, where Agricultural Bank traded up 0.4%, while China Merchants and ICBC rose 0.8% apiece.

Back in Hong Kong, reported bargain-hunting also helped shares of Esprit Holdings Ltd. snap seven sessions of losses with a 1.3% rise. Improvement for gold futures late last week boosted miner Zijin Mining Group Co. , which added 1.7%.

Marketwatch