Traders in China Petroleum & Chemical Corp. options are betting reforms to loosen restrictions on private investment in state enterprises will prove a boon for the shares of Asia’s largest refiner.
Most Hong Kong stocks fell as rising China home prices dimmed prospects for easing of property curbs, outweighing comments by Federal Reserve Chairman Ben S. Bernanke that the U.S. is not on a preset course to taper stimulus.
Equities traders in Hong Kong may soon have to say goodbye to lunches of sautéed ostrich and crispy pigeon at Michelin-starred restaurants and settle for a sandwich at their desks instead.
Hong Kong’s Hang Seng Index rose, capping its longest winning streak since May, as Chinese financial shares extended gains, and as metal producers advanced.
Hong Kong stocks swung between gains and losses as companies including SJM Holdings Ltd. rose after reporting higher profit, while mainland developers dropped amid plunging land sales.
"There are no new funds coming into Hong Kong, while local fund managers have to play the China rally."
- Alex Wong on Dec 30, 2014