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Hong Kong Stocks Swing Between Gains, Losses; AIA Drops

Hong Kong stocks swung between gains and losses as U.S. President Barack Obama made an offer to raise taxes while altering entitlement calculations, two people familiar with budget talks said. AIA Group Ltd. dropped after American International Group Inc. announced the sale of its remaining stake in the company.

The Hang Seng Index (HSI) climbed 0.1 percent to 22,539.94 as of 9:56 a.m. in Hong Kong, after dropping 0.1 percent. Three shares rose for very two that fell on the 50-company measure. The Hang Seng China Enterprises Index of mainland companies advanced 0.2 percent to 11,315.38.

Futures on the Hang Seng Index gained 0.3 percent to 22,535. The HSI Volatility Index rose 0.3 percent to 15.69, indicating traders expect a swing of 4.5 percent for the equity benchmark in the next 30 days.

To contact the reporter on this story: Kana Nishizawa in Hong Kong at knishizawa5@bloomberg.net

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net

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