BEIJING: Chinese stocks trading in Hong Kong rallied to the highest level since June 2011 after a three-day holiday as the city’s equities tracked gains in mainland equities. The Shanghai Composite Index swung between gains and losses after coming within 1 percent of 4,000.
Haitong Securities Co., China Communications Construction Co. and China Oilfield Services Ltd. surged at least 13 percent in Hong Kong. Industrial and consumer-staples companies climbed in Shanghai with Kweichow Moutai Co. and Chongqing Brewery Co. gaining more than 4 percent and trainmakers China CNR Corp. and CSR Corp. jumping 10 percent for a second day.
The Hang Seng China Enterprises Index surged 3.4 percent to 13,095.20, while the Hang Seng Index advanced 2.1 percent to the highest level since May 2008. The Shanghai Composite rose 0.3 percent to 3,974.80, after changing directions at least six times in its bid to reach the 4,000 level for the first time since 2008.
