Hong Kong  - Hong Kong shares rebounded Thursday following a resurgence in confidence on Wall Street, coupled with falling oil prices, with the benchmark Hang Seng index rising 2.41 per cent to close at 21,734.72, up 511.22 points on the day.

Turnover totalled 63.46 billion Hong Kong dollars (8.13 billion US dollars).

Banks, airlines and oil refiners showed the strongest recovery. HSBC bank climbed 3.7 per cent to 117 Hong Kong dollars, while China Construction Bank rose 3.2 per cent to 6.44 Hong Kong dollars after US bank Wells Fargo reported earnings above analysts' forecasts.

Fueled by lower oil prices, Cathay Pacific Airways climbed 4.6 per cent to 14.68 Hong Kong dollars, while China Southern Airlines rose 4.18 per cent to 3.24 Hong Kong dollars.

Sinopec, China's largest oil refining company, also saw its share price surge by 4.48 per cent to 7.48 Hong Kong dollars after analysts said falling oil prices were likely to cut the firm's rising refining losses.

But analysts said there were still concerns about the US and some European economies could likely be a drag on the Hong Kong stock market. (dpa)