Economics
Hong Kong Stocks Rise a Second Day on Global Recovery Strength
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Hong Kong’s Hang Seng Index of stocks rose for a second day as improving economic reports and speculation Europe’s debt crisis will be contained boosted confidence in a global recovery.
Yue Yuen Industrial (Holdings) Ltd., the world’s largest supplier of branded athletic and casual shoes, climbed 1.1 percent. Techtronic Industries Co., maker of Hoover vacuum cleaners and Ryobi power tools, advanced 1.4 percent. Cnooc Ltd., China’s biggest offshore oil producer, increased 3.2 percent after commodity prices rose. Huaneng Power International Inc., China’s No. 2 electricity producer, surged 6.8 percent after China ordered a freeze in power-coal prices.