Hong Kong Stocks Rise After Industrial Data; Sands China DropsChina stocks listed in Hong Kong climbed after a report showed mainland industrial profits rose. Sands China Ltd. dropped after an investor sold a $1.38 billion stake in the casino operator.

The Hang Seng China Enterprises Index, also known as the H-share index, added 0.2 percent to 10,100.75 as of 9:40 a.m. in Hong Kong. The Hang Seng Index added 0.1 percent to 22,966.92, poised for its highest close since April 14. Profit at China��s industrial companies rose 10 percent this year through April from the same period in 2013, compared with a 10.1 percent gain in the three months through March.

The Hang Seng Index rose 3.7 percent this month through yesterday, the third-best performer among major developed markets tracked by Bloomberg. The Standard & Poor 500 Index extended its record climb yesterday after U.S. durable goods orders climbed for a third month in April.

The H-share index traded at 7 times estimated earnings as of the last close, the lowest among major equity gauges in Asia, data compiled by Bloomberg show. That compares with 10.7 times for the Hang Seng Index and 16.2 on the S&P 500, the data show.

 

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