Hong Kong Stocks Defy Protests to Post World’s Best Gain
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Hong Kong stocks are beating every other developed market in the world this month as lower valuations shelter shares from a global selloff and the city’s worst political unrest since the 1960s.
The MSCI Hong Kong Index rallied 3.1 percent in October through yesterday, the most among 23 developed markets tracked by MSCI Inc. and one of only two to gain. The measure today erased its loss since police fired tear gas at pro-democracy demonstrators on Sept. 28, rising 0.9 percent, compared with a 3.2 percent slump by the MSCI World Index in the same period.