2013.06.1405:29:52UTC+00Hong Kong stocks skyrocket; Sinopec, property advance

Hong Kong stocks pushed greater on Friday action in the wake of a rebound on Wall Street and for most regional markets, with the property and energy sectors leading the bounce. The Hang Seng Index increased 0.9% to 21,066.46 and the Hang Seng China Enterprises Index bolstered 1% to 9,782.11. Shares of China Petroleum & Chemical Corp., also known as Sinopec, jumped 1.5% after Reuters reported the refining giant is negotiating to join a $20 billion liquefied natural gas project run by Russia's Novatek. China Overseas Land & Investment Ltd. and Cheung Kong Holdings Ltd. upturned 1.7% each in the beaten-down property sector, while heavyweight HSBC Holdings PLC improved 1.1% among financials. China's Shanghai Composite inch up 0.1% in choppy trade after dropping for eight straight trading days.