Chinese Stocks in Hong Kong Complete Best Week in Six Months
- H-shares rally has room to run, says Bernstein chartist
- Shanghai Composite posts biggest two-day gain in a month
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Chinese stocks rose in Hong Kong, capping the benchmark index’s biggest weekly gain since April, after investors speculated the government will take more steps to boost the economy and Federal Reserve minutes indicated the central bank isn’t in a hurry to raise interest rates.
Hong Kong’s Hang Seng China Enterprises Index climbed 1.2 percent to 10,406.79 at the close, extending this week’s advance to 7.4 percent. Industrial & Commercial Bank of China Ltd. and PetroChina Co. surged at least 2.3 percent, posting gains of more than 9 percent this week. The Hang Seng Index rose 0.5 percent as trading volumes increased 24 percent above the 30-day average, while the Shanghai Composite Index added 1.3 percent to 3,183.15.