Shado Baker
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Shado Baker in Asian Markets,

Hong Kong stocks gain after strong U.S. lead

Taking a strong U.S. lead, Hong Kong stocks rebounded Thursday morning after a previous loss, with the Hang Seng IndexHSI, +1.08% rising 1.1%. Blue-chip stocks advanced across the board, with several index heavyweights posting solid gains. Telecoms company China Mobile Ltd.0941, +2.94%CHL, +1.59% rose 1.2%, Sino-British banking giant HSBC Holdings PLC 0005, +0.95%HSBC, +1.94% added 0.6%, and online major Tencent Holdings Ltd. 0700, -0.59%TCTZF, +2.05% tacked on 0.5%. Other top winners among index components included mainland developer China Resource Land Ltd.1109, +2.82% rallying 3.3%, rival China Overseas Land & Investment Ltd.0688, +1.67%CAOVF, -1.49% jumping 2.9%, insurer AIA Group Ltd. 1299, +2.79%climbing 2.6%, and footwear retailer Belle International Holdings Ltd.1880, +4.33% improving by 2.3%. Casino stocks bounced back, with Melco Crown Entertainment Ltd. 6883, +3.23% advancing 2.4%, MGM China Holdings Ltd.2282, +2.00% rising 1.8%, and Galaxy Entertainment Group Ltd. 0027, +1.48% up 1.4%. Over on the Chinese mainland, the Shanghai Composite IndexSHCOMP, +0.28% traded 0.3% higher.