Actionable news
All posts from Actionable news
Actionable news in KNDI: Kandi Technologies Group, Inc.,

Chinese Stocks in Hong Kong Complete Best Week in Six Months

Chinese stocks rose in Hong Kong, capping the benchmark index’s biggest weekly gain since April, after investors speculated the government will take more steps to boost the economy and Federal Reserve minutes indicated the central bank isn’t in a hurry to raise interest rates.

Hong Kong’s Hang Seng China Enterprises Index climbed 1.2 percent to 10,406.79 at the close, extending this week’s advance to 7.4 percent. Industrial & Commercial Bank of China Ltd. and PetroChina Co. surged at least 2.3 percent, posting gains of more than 9 percent this week. The Hang Seng Index rose 0.5 percent as trading volumes increased 24 percent above the 30-day average, while the Shanghai Composite Index added 1.3 percent to 3,183.15.

The H-shares gauge, the worst performer among global benchmarks last quarter along with the Shanghai index, has rebounded 14 percent from a September low, as automakers rallied on a tax cut to passenger-vehicle purchases and energy companies gained on higher oil prices. Investor sentiment has also improved after disappointing jobs data from the U.S. pushed back expectations for a rate increase this year.

“H shares follow cues from the overseas market, particularly the U.S., so it’s more subject to foreign flows,” said Wu Kan, a Shanghai-based fund manager at JK Life Insurance Co. “We all know that the economy is not doing good, so people are expecting the...