Hong Kong Stocks Advance After Capping Back-to-Back Weekly Gains

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Hong Kong stocks rose, after the city benchmark index capped two straight weekly gains, as energy and technology companies led the advance.

The Hang Seng Index added 0.2 percent to 23,019.37 as of 9:31 a.m. in Hong Kong, heading for its highest close since April 14. The Hang Seng China Enterprises Index increased 0.4 percent to 10,160.25. The gauge of mainland companies traded in the city climbed 1.7 percent last week, extending its rebound from a May 7 low to 4.8 percent, as investors weighed prospects for China��s policy makers to support growth with more stimulus.

The Standard & Poors 500 Index climbed to a record at the end of last week, closing above 1,900 for the first time, as a report showed purchases of new homes climbed in April. The U.S. and U.K. equity markets are closed for holidays today.

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Japans Topix Heads for Seven-Week High on Yen, U.S. Optimism

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Japans Topix index headed for a seven-week high as the yen held declines and U.S. stocks climbed to a record after new home sales data buoyed optimism about the world��s largest economy.

Electrical-appliance exporters provided the biggest boost to the Topix. Nikon Corp. climbed the most on the Nikkei 225 Stock Average after the camera maker��s equity rating was raised at Credit Suisse Group AG. Sony Corp. gained 3.6 percent after saying it has formed a joint venture to make and sell game consoles in China. Dainippon Sumitomo Pharma Co. was untraded and poised to fall after saying it was ending a drug trial.

The Topix climbed 0.8 percent to 1,190.13 as of 12:41 p.m. in Tokyo, poised for its highest close since April 7. All but four of the 33 industry groups advanced, with volume about in line with the 30-day intraday average. The measure gained 1.8 percent last week. The Nikkei 225 added 0.5 percent today to 14,539.70. The yen gained less than 0.1 percent to 101.89 per dollar after falling 0.2 percent on May 23.

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Hong Kong Stocks Swing After Capping Back-to-Back Weekly Gains

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Hong Kong stocks swung between gains and losses on low trading volume, after the city��s benchmark index capped two straight weekly increases, as investors weighed whether China��s government will add to stimulus.

Winsway Coking Coal Holdings Ltd. led declines for energy producers, which posted the biggest drop among the 11 industry groups on the Hang Seng Composite Index. PetroChina Co. dropped 1.1 percent, dragging on the Hang Seng Index. Minth Group Ltd., which makes car parts, jumped 5.7 percent after a report that Chinese President Xi Jinping urged the development of new-energy vehicles.

The Hang Seng Index slipped 0.1 percent to 22,950.39 at the midday trading break in Hong Kong, after gaining as much as 0.5 percent. Volume on the measure was 30 percent less than its 30-day intraday average. The Hang Seng China Enterprises Index dropped 0.3 percent to 10,091.08. The gauge of mainland companies traded in the city climbed 1.7 percent last week, extending its rebound from a May 7 low to 4.8 percent.

The Hang Seng Index is up 3.7 percent this month, the second-best performer among major developed markets tracked by Bloomberg. The Standard & Poor��s 500 Index climbed to a record at the end of last week, closing above 1,900 for the first time, as a report showed purchases of new homes climbed in April. U.S. and U.K. equity markets are closed for holidays today.

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