Dec. 9 (Bloomberg) -- Hong Kong stocks rose for a second day, with the city’s benchmark index closing at the highest in almost a week, after better-than-forecast growth in U.S. jobs and Chinese exports boosted investor confidence.
China Merchants Holdings International Co., a Chinese port operator, gained 5.5 percent. Hong Kong Parkview Group Ltd., a unit of COFCO Corp., jumped 21 percent after Singapore’s sovereign wealth fund bought a stake in the property company. Skyworth Digital Holdings Ltd. fell 6.6 percent after the television maker said sales dropped in November.
The Hang Seng Index rose 0.3 percent to 23,811.17 at the close, with about three shares rising for every two that fell. The Hang Seng China Enterprises Index of mainland companies listed in the city gained 0.5 percent to 11,432.92 after China posted its biggest trade surplus in nearly five years.
“China’s exports point to a recovery in the world economy,” Mark Matthews, Singapore-based head of Asia research for Julius Baer, which oversees about $377 billion in client assets, said on Bloomberg Television. “The U.S. is going into some pretty decent growth and Europe is showing mediocre growth but still better. This makes me pretty positive about equities.”
Futures on the Standard & Poor’s 500 Index added 0.1 percent today. The gauge climbed 1.1 percent on Dec. 6 after data showed U.S. employers added 203,000 workers to nonfarm payrolls last month, more than the 185,000 increase predicted in a Bloomberg survey, while the jobless rate dropped to a five- year low of 7 percent.
China’s trade surplus of $33.8 billion was the biggest since January 2009, data from the General Administration of Customs showed yesterday in Beijing. Outbound shipments rose 12.7 percent from a year earlier, topping projections from 41 of 42 analysts surveyed by Bloomberg News, while import gains of 5.3 percent compared with a median projection of 7 percent.
The nation’s inflation slowed more than estimated in November, government data showed today. The consumer price index rose 3 percent from a year earlier, the National Bureau of Statistics said today in Beijing. That compares with the 3.1 percent median estimate of 43 analysts surveyed by Bloomberg News and a 3.2 percent increase in October.
The Hang Seng Index climbed 20 percent from its June low amid signs China’s economy is stabilizing. The measure traded at 11.4 times estimated earnings today, compared with 16.2 for the S&P 500.
The H-share index, as the gauge of Chinese companies listed in Hong Kong is known, climbed 29 percent from this year’s low on June 25 through today, extending gains after China unveiled sweeping reform plans.
Exporters advanced. Li & Fung Ltd., a supplier of toys and clothes to retailers including Wal-Mart Stores Inc. rose 0.6 percent to HK$10.30. Techtronic Industries Co., a maker of power tools that gets about 73 percent of sales from North America., gained 1.2 percent to HK$20.40.
China Merchants advanced 5.5 percent to HK$28.80 after Goldman Sachs Group Inc. added the port operator to a portfolio of 25 recommended Asian stocks.
Hong Kong Parkview surged 21 percent to HK$3.37, the most since October 2012, after GIC Pte bought 775 million shares at an average price of HK$2.72 each on Nov. 29, giving the fund a 9.14 percent stake.
Chinese insurers gained after the government said it will allow tax deferral for employer pension plans, a move Ping An Securities Co. said would help double such assets. China Life Insurance Co., the nation’s biggest insurer, rose 1 percent to HK$25.60.
Haier Electronics Group Co. surged 13 percent to HK$21.05, the highest close since July 1999, after Alibaba Group Holding Ltd. agreed to invest HK$2.82 billion ($364 million) in the home-appliance maker and its logistics business.
Skyworth Digital sank 6.6 percent to HK$4.36 after reporting total television sales dropped 10 percent last month from a year earlier.
--Editor: Hwee Ann Tan