Bloomberg News

Hong Kong Stocks Advance on China, U.S. Manufacturing

May 01, 2012

Hong Kong stocks rose for a second day, with the benchmark index headed for the highest close in six weeks, after reports showed manufacturing gained in China and the U.S., adding to signs the mainland economy will avoid a hard landing without further stimulus by the government.

The Hang Seng Index (HSI) added 1.1 percent to 21,323.43 as of 9:41 a.m. in Hong Kong with more than 14 stocks rising for each that fell. Trading volume was 30 percent below the 30-day average after the market was closed yesterday for a public holiday. The Hang Seng China Enterprises Index (HSCEI) of mainland companies listed in Hong Kong advanced 1 percent to 11,196.40.

To contact the reporter on this story: Yoshiaki Nohara in Tokyo at ynohara1@bloomberg.net

To contact the editor responsible for this story: John McCluskey at j.mccluskey@bloomberg.net


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