Hong Kong stocks rose, with the benchmark index heading for the longest weekly winning streak since August, as technology shares led gains. Prada SpA dropped after the Italian fashion house��s profit missed expectations.
The Hang Seng Index climbed 0.4 percent to 23,199.40 as of 9:31 a.m. in Hong Kong, poised to gain 0.5 percent this week. The Hang Seng China Enterprises Index, also known as the H-share index, today added 0.5 percent to 10,411.90. The European Central Bank announced sweeping stimulus measures overnight and investors are awaiting the U.S. jobs report today China��s trade data over the weekend.
The Hang Seng Index pared losses to 0.8 percent this year through yesterday after falling as much as 9.1 percent, rebounding amid signs of recovery in China and optimism the government will take further steps to spur growth. The equity gauge traded at 10.7 times estimated earnings yesterday, compared with 7.2 for the H-share index and 16.4 for the Standard & Poor��s 500 Index.
Source : Bloomberg