Hong Kong Stocks Rise as U.S. Manufacturing Lifts Global Outlook

Thursday, 02 February 2012 16:00

Hong Kong stocks advanced, with the Hang Seng Index heading toward its highest close in five months, as expanding manufacturing in the U.S., Europe and Asia boosted confidence the global economy is recovering.

Techtronic Industries Co., the maker of Ryobi power tools that counts North America as its top market, jumped 5.3 percent. Esprit Holdings Ltd., a Hong Kong-based clothier that gets about 79 percent of sales from Europe, climbed 5.5 percent after moving to close unprofitable stores in North America. Geely Automobile Holdings Ltd. led Chinese carmakers higher on speculation car sales in the mainland will increase.

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