Hong Kong stocks rose, reversing a drop, as commodity producers gained with metal prices, and carmakers climbed on optimism demand growth can outweigh the end of tax breaks, countering slowing manufacturing growth in China.
Jiangxi Copper Co., China’s biggest producer of the metal, increased 2.5 percent. Brilliance China Automotive Holdings Ltd., the Chinese partner of Japan’s Nissan Motor Co., surged 7.2 percent. Sany Heavy Equipment International Holdings Co., a maker of coal mining equipment, slid 2.7 percent.
China’s manufacturing is “still expanding but the fact that it has slowed may worry some,” said Andrew Sullivan, director of institutional sales at OSK Securities Hong Kong Ltd. “Also the expectation of more interest-rate rises in early 2011 could result in more slowing ahead.”
The Hang Seng Index rose 0.1 percent to close at 22,999.34, after dropping as much as 0.3 percent. The Hang Seng China Enterprises Index of so-called H shares of Chinese companies rose 0.6 percent to 12,586.84.
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