Stocks gain as govt intervention cheers investors

Hong Kong shares added 1.6 percent yesterday after surging 9.6 percent in the previous session, as investors cheered government intervention in the US and Chinese markets, but stocks ended below the day's highs.

Energy shares outperformed with Asia's largest oil and gas producer PetroChina gaining 5.1 percent, and offshore oil producer CNOOC surged 6 percent after crude oil inched up after posting its biggest three-day rally in a decade last week.

Other commodity-linked stocks also enjoyed strong gains with China COSCO, the nation's largest shipping conglomerate, soaring 11.7 percent and China Shipping pole-vaulting 15.3 percent following a four-day rally on the global freight index.