China’s military has used annual budget increases in excess of 10 percent to buy precision-guided weapons, fighter jets and an aircraft carrier. Now it’s seeking to upgrade its recruits to operate them.
Hong Kong stocks rose, lifting the benchmark index to its third straight weekly gain, after China reported higher-than-estimated loan growth, and the European Central Bank raised its economic growth forecast.
Developing-nation stocks rose, sending the benchmark index to a one-week high, after China reported higher-than-estimated retail sales and the European Central bank increased its economic growth forecast.
Hong Kong stocks gained for a second day as oil-related shares climbed after China raised gasoline and diesel prices. Cheung Kong (Holdings) Ltd. rose on a potential spinoff of a real-estate-investment trust.