Hong Kong Stocks Rise Third Day as China New Loans Top Forecasts
Agricultural Bank of China Ltd., the country’s third- biggest lender by market value, gained 1.7 percent. China Overseas Land & Investment Ltd., the largest mainland real estate company traded in Hong Kong, rose 1.2 percent after Shanghai Daily reported a land parcel in the city was sold at the highest price in more than two years. Hengdeli Holdings Ltd., the retail partner of Swatch Group AG in China, jumped 8.3 percent after Jefferies Group Inc. recommended investors hold the stock in new coverage.
The Hang Seng Index rose 0.7 percent to 22,192.56 as of 10:02 a.m. in Hong Kong, headed for its longest winning streak since March 27. About eight stocks advanced for each decliner in the 50-member gauge. The Hang Seng China Enterprises Index, which tracks mainland shares, gained 0.9 percent to 10,794.49.
Hang Seng Index (HSI) futures added 1 percent to 22,182. The HSI Volatility Index (VHSI) dropped 2.4 percent to 15.75, indicating traders expect a swing of 4.5 percent for the equity benchmark in the next 30 days.
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