Henderson Land Development Co. , the flagship company of Hong Kong’s second-richest man, has lost 20 percent of its market value this year as it became the focus of government efforts to curb property prices and police raided its offices. Now some analysts say it’s time to buy.
Hong Kong stocks rose for the first time in three days, led by developers and oil producers, after the Standard newspaper said Sino Land Co. sold apartments at higher prices, and crude prices advanced.
Hong Kong’s Hang Seng Index rose for a second day, led by exporters after reports showed employment and consumer sentiment improved in the U.S., easing concern the global economic recovery will falter.
Hong Kong stocks rose, with the benchmark index advancing for a second day, after Premier Wen Jiabao said China’s government will boost measures to support growth in the world’s second-biggest economy.
Hong Kong stocks fell, with a gauge of China shares retreating after the biggest weekly gain in two years as China Petroleum & Chemical Corp., also known as Sinopec, led declines in energy shares after a pipeline blast.
Hong Kong Exchanges & Clearing Ltd., the world’s third-biggest bourse operator, will post its biggest quarterly profit growth in almost six years after new listings in the city surged, according to analysts.