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Hong Kong Shares Rise on Industrial Profits; Sands China Drops •

Hong Kong Shares Rise on Industrial Profits; Sands China Drops

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Equityworld Futures :  Hong Kong stocks rose, with the city™s benchmark index headed for a seven-week high, as U.S. durable goods orders climbed and investors weighed mainland industrial profits. Sands China Ltd. slid 1.8 percent after an investor sold a $1.38 billion stake in the casino operator.

Jiangxi Copper Co., China™s biggest producer of the metal, gained 2.5 percent. Yue Yuen Industrial Holdings Ltd., a supplier of athletic shoes to U.S.-based Nike Inc., climbed 3 percent. Lenovo Group Ltd., the world™s No. 1 maker of personal computers, extended gains as China seeks to replace high-end servers from International Business Machines Corp. in the nation™s banks with local brands.

The Hang Seng Index added 0.8 percent to 23,133.99 at the midday break, poised for its highest close since April 10. The gauge has broken through 23,000 twice before this year, only to fall back below that level, data compiled by Bloomberg showed. The Hang Seng China Enterprises Index, also known as the H-share index, advanced 1.4 percent to 10,219.73.

Profit at China™s industrial companies rose 10 percent this year through April from the same period in 2013, compared with a 10.1 percent gain in the three months through March, data showed today.


Copy Source: Bloomberg

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