HK stocks up amid China stimulus hopes

HONG KONG — Hong Kong stocks rose moderately Thursday amid hopes that China's stimulus measures would keep the economy growing rapidly.

The blue-chip Hang Seng Index recovered near the end of the session to add 37.29 points, or 0.2 percent, to 15,497.81 after trading in the red most of the day.

Hong Kong's market has shown surprising strength since rebounding from last month's sell-off, though some analysts were skeptical that the upswing would last.

"This is not the start of a bull market, it's still a bear market rally," said Francis Lun, general manager of Fulbright Securities Ltd. "The economy is still in the doldrums."

China's latest stimulus measures, announced Wednesday and aimed at the country's slumping real estate market, lifted shares in property firms. Investors also held out hope for another interest rate cut on the mainland.

Guangzhou R&F Properties jumped 13 percent to 8.86 Hong Kong dollars, while China Resources gained 2.8 percent to HK$10.28.

Casino firms gained on hopes Macau's gambling industry would see solid growth next year despite recent troubles. Galaxy Entertainment roared 40 percent higher to HK$1.15.

____

On the Net:

Stock Exchange of Hong Kong: http://www.hkex.com.hk

Back To Top

	HK central bank cuts key rate after Fed's action	Associated Press	Wed Dec 17	0
	European markets edge higher ahead of Fed decision	Associated Press	Tue Dec 9	0
	European stocks edge higher ahead of US data	Associated Press	Tue Dec 16	0
	Stocks slip as Toyota cuts profit outlook	Associated Press	Mon Dec 15	1