Chinese Stocks in Hong Kong Rise Fourth Day as Automakers Gain
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Chinese stocks in Hong Kong rose in their best four-day run since April as automakers resumed their advance and casino operators extended gains.
The Hang Seng China Enterprises Index added 0.5 percent to 9,931.53 at the close in Hong Kong, capping a 7.6 percent four-day increase, as supportive policies from China’s government for car manufacturers and developers buoy investor sentiment, along with prospects of the U.S. keeping interest rates lower for longer. BYD Co. and Geely Automobile Holdings Ltd. climbed, building on last week’s advance after a tax cut on passenger-vehicle purchases. Sands China Ltd. and Wynn Macau Ltd. jumped at least 7.4 percent after JPMorgan Chase & Co. raised its ratings on the gaming companies.