Hongkong Stocks Cling Onto Early Gains Despite HSBC Stagger

        0826 GMT [Dow Jones] The Hang Seng Index closes up after a brief wobble in the afternoon session, hurt by Standard Chartered (2888.HK) warning of "difficult market conditions" continuing into 2Q and Barclays (BARC.LN) preparing thousands of job cuts in its investment bank. The warnings come less than a day after a weaker-than-expected first-quarter profit from bellwether HSBC (0005.HK), which closed down 0.2% at HK$78.25. Still, the Hang Seng Index ends up 0.4% at 21,837.12, helped by a surprise increase in imports and exports -- both of which economists had expected to show declines. "While the data didn't shoot the lights out, it showed signs of a recovery and that's been enough to encourage some buying today," says IG. (gregor.hunter@wsj.com; Twitter: @gregorhunter)
        (END) Dow Jones Newswires

        May 08, 2014 04:26 ET (08:26 GMT)