China Shares Rise in Hong Kong as U.S. Jobs Data Beat Estimates

Chinese stocks traded in Hong Kong rose the most in seven weeks, joining a global rally as data on U.S. jobs signaled the world’s biggest economy is on a stronger footing.

The Hang Seng China Enterprises Index was up 1.9 percent as of 10:14 a.m., after sliding 2 percent last week. The S&P 500 Index jumped 1.5 percent on Friday after a report showed a 287,000-worker increase in nonfarm payrolls in June, the most in eight months. On China’s mainland, the Shanghai Composite Index climbed 0.3 percent on Monday.

The Hang Seng China Enterprises Index was trading at 8,696.35, while the Hang Seng Index climbed 1.6 percent to 20,888. Consumer and energy companies were leading gains, with Belle International Holdings Ltd. jumping 3.7 percent. China Petroleum and Chemical Corp. gained 2.8 percent, while China Shenhua Energy Co. rose 2.8 percent.

Source : Bloomberg

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