Hong Kong Stocks Cap Weekly Gain as China Mobile Advance
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Hong Kong stocks advanced, with the city’s benchmark index briefly topping 25,000 for the first time in six years, as lenders rose and China Mobile Ltd. led gains.
Department-store operator Parkson Retail Group Ltd. jumped 13 percent after first-half profit beat estimates. HSBC Holdings Plc, Europe’s biggest bank, added 1.3 percent. China Mobile, the world’s largest phone company by users, surged 5.8 percent after saying it will cut $2 billion in device subsidies. Zoomlion Heavy Industry Science & Technology Co., a construction machinery maker, was suspended from trading today pending an announcement related to inside information.