Chinese stocks dropped, sending mainland companies in Hong Kong to the biggest decline in two months, as falling producer prices signaled weakening economic growth and technology shares sank on valuation concerns.
Asian stocks rose a second week with the regional benchmark index posting its longest daily winning streak this year as positive U.S. data pointed to a recovery from harsh winter weather and China promised support to counteract a slowdown threatening the nation’s growth goal.
Hong Kong stocks rose, with the benchmark index headed for its longest winning streak since Jaunary. Mainland shares listed in the city gained after the government outlined a package of measures to support growth highlighted by railway spending.
Chinese shares rose, with a gauge of mainland stocks traded in Hong Kong capping its biggest weekly gain in four months, as higher profits at automakers and banks eased concern earnings growth is slowing.
Asian stocks rose this week, with the regional benchmark rebounding from two weekly losses to post its biggest advance in almost a year, as finance shares led gains. Tencent Holdings Ltd. dropped amid concern valuations for Internet stocks are too high.