By Hanny Wan
Feb. 6 (Bloomberg) -- Hong Kong stocks rose for a third day, led by financials, on speculation the U.S. will announce its plan to ease the financial crisis and global economic growth can be revived.
HSBC Holdings Plc, Europe’s biggest bank, climbed 3.5 percent. Yue Yuen Industrial (Holdings) Ltd., the largest supplier of athletic shoes to Nike Inc., advanced 4.5 percent on expectations demand can be sustained. PetroChina Co., the nation’s largest oil producer, rose 3.8 percent after crude oil prices climbed yesterday to the highest settlement in a week.
Sun Hung Kai Properties Ltd. led developers’ gains after sales of Hong Kong luxury-homes rose to their highest in six months in January.
The Hang Seng Index added 254.35, or 1.9 percent, to 13,433.25 as of 10:30 a.m. local time, extending its advance this week to 1.2 percent. The Hang Seng Finance Index’s 2.5 percent gain was the biggest among the four industry groups tracked by the Hang Seng Index.
The Hang Seng China Enterprises Index, which tracks Chinese companies’ so-called H shares, climbed 2.7 percent to 7,659.66.
A U.S. Treasury official yesterday said Secretary Timothy Geithner will make a speech on Feb. 9 and President Barack Obama will hold a news conference that will address the stimulus package.
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