HK stocks rise as focus turns to US earnings

Asian share markets got off to a cautious start on Monday as earnings season loomed as a challenge to sky-high tech valuations, while oil was choppy after strikes on shipping and airports in the Gulf. In Hong Kong, the benchmark Hang Seng Index opened up 223 points, or 0.9 percent, at 24,434. The China enterprises index was up 81 points, or 1 percent, at 8,229 and the tech index was 43 points, or 1.03 percent, higher at 4,241. Up north, the Shanghai Composite Index opened down six points, or 0.18 percent, at 3,806. The Shenzhen Component Index was 54 points, or 0.43 percent, lower at 12,586 while the ChiNext Index slipped 19 points, or 0.65 percent, to 3,023. Brent futures started higher but soon slipped 1.1 percent to US$103.50 a barrel, away from the recent top of US$109.97 while US crude futures lost 1.2 percent to US$90.73 a barrel. The Kospi in Seoul opened 47 points, or 0.72 percent, lower at 6,578 and slipped further to be 177 points down at one stage before lunch. Trade was thin with Japan markets shut and the US on a partial ⁠holiday ahead of the earnings season with major US banks kicking off on Tuesday. S&P 500 earnings are ⁠expected...