Economic Calendar

Tuesday, April 14, 2009

Hong Kong Stocks Climb; Banks Advance on Goldman Sachs Earnings

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By Hanny Wan

April 14 (Bloomberg) -- Hong Kong stocks rose, lifting the benchmark index to the highest level in more than three months, as Goldman Sachs Group Inc. reported better-than-estimated earnings and metal prices climbed.

BOC Hong Kong (Holdings) Ltd., a unit of Bank of China Ltd., added 4.4 percent on optimism industry profits will recover. HSBC Holdings Plc, Europe’s biggest bank, advanced 3.5 percent after saying it may sell three of its landmark office buildings in London, New York, and Paris. Aluminum Corp. of China Ltd., the nation’s biggest producer of the metal, jumped 6.7 percent.

The Hang Seng Index added 247.87, or 1.7 percent, to 15,149.28 as of 10:03 a.m. local time, set for its highest close since Jan. 6. The Hang Seng China Enterprises Index, which tracks so-called H shares of Chinese companies, rose 2.4 percent to 9,043.35.

To contact the reporter on this story: Hanny Wan in Hong Kong at hwan3@bloomberg.net




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