Hong Kong Stocks Heading for Five-Week High; China Gas SurgesHong Kong stocks, with the benchmark index erasing last week��s decline, after China exports and U.S. payrolls beat estimates.

The Hang Seng Index advanced 0.6 percent to 23,095.98 as of 9:31 a.m. in Hong Kong after falling 0.6 percent last week. The Hang Seng China Enterprises Index, also known as the H-share index, added 0.2 percent to 10,362.22.

The Hang Seng Index climbed 8.4 percent from this year��s low in March through last week, buoyed by signs of a manufacturing recovery and measures from China��s government to counter an economic slowdown. The equity gauge traded at 10.7 times estimated earnings at the end of last week, compared with 7.2 for the H-share index and 16.5 for the Standard & Poor��s 500 Index.

China��s exports gained 7 percent from a year earlier, an official report over the weekend showed, topping the median estimate of 6.7 percent in a Bloomberg News survey of analysts. Imports fell 1.6 percent, a drop that wasn��t forecast by any of the 42 economists in a Bloomberg survey that had a median projection for a 6 percent gain. The trade surplus widened to $35.92 billion.

Source : Bloomberg