Hong Kong Stocks Climb to Three-Week High on China Credit
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Hong Kong stocks rose a second day, with the city’s benchmark equity gauge capping a three-week high, after new credit in China climbed to a record in January.
China Life Insurance Co., the nation’s biggest company in the sector, jumped 5.8 percent as UBS AG and Credit Suisse Group AG raised their ratings on the stock. Tencent Holdings Ltd., Asia’s largest Internet company by market value, advanced 5.7 percent to extend a record high after Sina.com reported it may invest in a restaurant and entertainment guide website. Casino operators slid, with Sands China Ltd., a unit of billionaire Sheldon Adelson’s Las Vegas gaming company, dropping 3.4 percent.