Hong Kong stocks will extend a rally after touching a 2 1/2-year high on optimism for China’s biggest package of policy changes since the 1990s and a stronger global economy, according to investors from JPMorgan Asset Management to Pictet Asset Management (HK) Ltd.
Asian stocks dropped, with the regional benchmark falling to its lowest level in eight weeks, amid concerns Europe’s debt crisis may spread and China may raise interest rates to curb inflation. Exporters rose after a report showed U.S. consumers increased holiday spending.
Billionaire Oleg Deripaska , who listed his United Co. Rusal in Hong Kong this year, says the city is Russia’s best chance to tap into Asian economic growth. Investors, who have watched debt-laden Rusal slump, are yet to be persuaded.
Asian stocks fell, dragging the MSCI Asia Pacific Index to its biggest drop in two weeks, after an unexpected decline in U.S. home sales raised concern about the strength of the world’s largest economy.
Asian stocks fell, with a regional benchmark index dropping from a three-month high, ahead of a European summit on the region’s debt crisis and after the U.S. economy expanded less than forecast, hurting the earnings outlook for exporters.
Asian stocks gained, driving the benchmark index to its sixth advance in seven days, as reports on better-than-estimated economic growth in Japan and employment in Australia bolstered confidence in a regional recovery.
Asian stocks fell, dragging the regional benchmark index to its fourth weekly loss, on concern China’s biggest banks may fall short of loan targets for the first time in at least seven years as the economy slows.