Chinese Stocks in Hong Kong Climb to 2011 High on Stimulus Bets
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Chinese stocks traded in Hong Kong rose to their highest close in more than three years amid speculation the government will further ease monetary policy to support a slowing economy.
Mainland developers and financial companies jumped, with China Vanke Co. increasing 11 percent and People’s Insurance Company (Group) of China Ltd. reaching a one-year high. CSR Corp. and China CNR Corp. soared at least 16 percent, extending their Dec. 31 surge after the train builders announced a merger agreement. Kaisa Group Holdings Ltd. remained suspended after the property developer defaulted on a $52 million loan.