China’s leadership change “removes the biggest overhang” for the nation’s equities as the new government is determined to carry out reforms, according to Victoria Mio, portfolio manager at Robeco Hong Kong Ltd.
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 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.
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.
Agricultural Bank of China Ltd. is a “must buy” for investors as it is a proxy for the development of the nation’s rural areas, Atlantis Investment Management Ltd.’s Liu Yang said in a Bloomberg Television interview.