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Hong Kong blue chips surged more than 300 points higher in morning trading following gains on Wall Street on Friday, but lost all of that when China markets fell.

Robust response for jeweler Chow Tai Fook's offering and brighter outlook for China in 2012 may help China stocks hold on to last week's major gains.

Europe's struggles with its debt crisis continue to pre-occupy Chinese stocks investors, while expected credit loosening in China offers a ray of hope. However, one analyst cautions that there is uncertainty surrounding Chinese economic growth.

A report that the IMF would lend 600 billion Euros to debt-plagued Italy helped push the Hong Kong market sharply higher, although turnover remained weak.

Hong Kong stocks posted a slight rise in weak turnover after U.S. market erased early losses. Chinese oil producers gained on the back of rising oil prices.

Chinese stocks fell after European leaders failed to make progress on the debt crisis in Greece and the Fed did not give any indication it would launch a new round of loose credit.

Hong Kong blue chips opened higher, but lost ground as investors retreated ahead of the European finance ministers' meeting and the release of Chinese economic statistics.

China stocks led the Hong Kong market higher Monday as investors celebrated an easing of Chinese credit policies.

China stocks opened lower and continued to fall in Hong Kong Monday, weighed down by worry over European debt and possible failure of the U.S. deficit-reduction Super Committee.

Hong Kong opened slightly higher, then in mid-morning shot straight up as strong gains in local property stocks pushed blue chips higher, triggering heavy technical buying.

The Hong Kong market rose sharply due to gains in Hong Kong-listed ADRs in the U.S. on Friday and to optimism Europe would solve its debt crisis at a regional summit on Wednesday.

Hong Kong opened higher, but profit-taking after the recent major rally led to a broad-based retreat. However, lower turnover indicated selling pressure was not great.