Hong Kong stocks rose, with the benchmark index headed for its biggest weekly gain since February, on speculation central banks will take steps to bolster economies as Europe’s debt crisis hurts growth.
The Hang Seng Index (HSI) climbed 0.9 percent to 18,972.21 as of 9:42 a.m. local time, with 10 stocks rising for each that dropped in the 49-member gauge. For the week, the index is headed for a 2.7 percent gain, its first weekly advance in six and the steepest rise since Feb. 17. The Hang Seng China Enterprises Index (HSCEI) of mainland stocks rose 1.2 percent to 9,636.8.
Hang Seng Index futures expiring this month climbed 1.3 percent to 18,998. The HSI Volatility Index slid 2.1 percent to 27.33, indicating traders expect a swing of about 7.8 percent in the benchmark index during the next 30 days.
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