HK stocks closed sharply higher on Wednesday with the benchmark index extending gains in the afternoon to break through the 50-day moving average (22,506).
The Hang Seng Index ended up 684 points to 22,515. The H-share index rose 463 points to 10,394. Turnover increased to HK$108.67 billion from HK$78.3 billion on Tuesday.
Market heavyweights were higher. China Mobile (00941) gained 1.44% to HK$94.85, while HSBC (00005) picked up 2.48% to HK$62.05.
Oil majors' rally continued in the afternoon following the oil price jump. CNOOC (00883) surged 13.74% to HK$9.52, making itself the top blue-chip gainer. PetroChina (00857) shot up 9.2% to HK$6.29 and Sinopec (00386) put on 6.63% to HK$5.47.
Brewery stocks benefited on the news that Anheuser-Busch InBev raises takeover offer for SABMiller. San Miguel HK (00236) gained 5.11% to HK$1.44. China Resources (00291) put on 4.21% to HK$14.86. Tsingtao Brew (00168) rose 2.38% to HK$36.6.
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