In this photograph taken on November 24, 2015, a man walks past a billboard showing electric buses during the opening of the China International New Energy Vehicle (CINEV) show in Hong Kong. AFP PHOTO / Philippe Lopez
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Chinese energy firms advanced Thursday following the latest moves to reform the country's bloated state-owned enterprises, but the gains were unable to help Hong Kong and Shanghai keep up with an Asia-wide market rally.However, with afternoon bargain-buying kicking in on trading floors in Hong Kong and Shanghai, PetroChina pared the morning's big gains. It was up 0.3 percent in Hong Kong and ended slightly lower in Shanghai.Kunlun rallied almost three percent in Hong Kong.However, despite the early promise Shanghai ended lower after a two-day advance, with the energy rally unable to soothe investors ahead of Monday's restart of initial public offerings they fear will divert cash from existing stocks.
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