Hong Kong stocks swing as developers rise

Hong Kong stocks fluctuated as developers climbed while energy stocks dragged the benchmark index lower. Shares jumped earlier after police cleared more pro-democracy protest barricades in the city’s business center. Chow Tai Fook Jewellery Group Ltd. (1929), which had shut some of its shops amid the city’s unrest, advanced 1.4 per cent. Agile Property Holdings Ltd. climbed 4.6 per cent after plunging 17 per cent yesterday. Cnooc Ltd., China’s largest offshore energy explorer, fell 3.1 per cent as crude prices extended losses. Tingyi (Cayman Islands) Holding Corp. slid 3.7 per cent as the snackmaker’s Taiwan affiliate plunged on food safety concerns. The Hang Seng Index fell 0.1 per cent to 23,114.08 as of 3 p.m. in Hong Kong after rising as much as 1.2 per cent. The Hang Seng China Enterprises Index rose 0.1 per cent to 10,293.78. Hundreds of police officers this morning pulled down tents and bamboo obstacles blocking the key Queensway thoroughfare, according to bloomberg.com