Bloomberg, (22/11) -- Hong Kong stocks rose, with the benchmark index
heading for its highest in nearly 10 months, as coal producers and
lenders advanced. Glorious Property Holdings Ltd. soared by a record on a
buyout offer.The Hang Seng Index climbed 0.6 percent to
23,736.34 as of 9:31 a.m. in Hong Kong, poised for its highest close
since Jan. 31 and a 2.9 percent gain this week. The Hang Seng China
Enterprises Index, also known as the H-share index, added 1.1 percent to
11,453.83 as it headed for a 7.1 percent weekly gain.The
H-share index climbed 28 percent from this year’s low on June 25 through
yesterday on signs of recovery in China and after policy makers
unveiled the biggest reform package since the 1990s. The Hang Seng Index
is up 19 percent from its June low, and traded at 11.3 times estimated
earnings yesterday, compared with 16.2 for the Standard & Poor’s 500
Index.
