Hong Kong Stocks Rise as Developers, Casinos Lead Gains Hong Kong stocks rose, after the benchmark index yesterday closed at a two-week low, as investors weighed lower-than-expected China inflation. Property companies and casino operators led the advance. Sands China Ltd. (1928) rose 2.3 percent to pace gains among Macau gaming shares. Sun Hung Kai Properties Ltd. climbed 1.6 percent. Air China Ltd was among carriers that jumped on lower oil prices. Central China Securities Co. surged 13 percent after being approved to participate in the Hong Kong-Shanghai stock link. Tingyi (Cayman Islands) Holding Corp. (322) dropped 4.2 percent after UOB Kay Hian Ltd. downgraded the snackmaker. The Hang Seng Index rose 0.6 percent to 23,189.45 as of 1:19 p.m. in Hong Kong after falling as much as 0.2 percent. The Hang Seng China Enterprises Index gained 0.6 percent to 10,320.90 after yesterday capping a decline of more than 10 percent from its high in September, a drop that meets the definition of a correction. Hong Kong police moved on pro-democracy protesters this morning, using pepper spray and making arrests. “At current levels, it may be a good time to buy on dips or accumulate,” said Linus Yip, a strategist at First Shanghai Securities Ltd. “China’s manufacturing sector still isn’t [...] newsintx/hong-kong-stocks-rise-as-developers-casinos-lead-gains/
Posted on: Wed, 15 Oct 2014 09:10:19 +0000
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