Stocks rise fol­low­ing weekly slump

China Daily (Hong Kong) - - NATION / DIGEST -

Hong Kong stocks rose, with the city’s bench­mark in­dex ad­vanc­ing from its big­gest weekly slump in two months, af­ter plung­ing US home sales tem­pered ex­pec­ta­tions the Fed­eral Re­serve will cut stim­u­lus in Septem­ber. China Pe­tro­leum & Chem­i­cal Corp, also known as Sinopec, rose 1.9 per­cent af­ter Asia’s big­gest refiner re­ported higher first-half net in­come. The Hang Seng In­dex rose 0.7 per­cent to close at 22,005.32, with three shares climb­ing for each that dropped on the 50-mem­ber gauge.

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