Hong Kong Stocks Rise on Phone Companies; Casinos Decline
Hong Kong stocks rose, with the benchmark index advancing from a one-month low, as gains at phone companies offset a slump by casino operators.
China Unicom (Hong Kong) Ltd., the nation’s no. 2 telecommunications company, rallied the most since October to lead gains on the Hang Seng Index. Sands China Ltd. fell 2.6 percent and Galaxy Entertainment Group Ltd. sank 4.6 percent after analyst’s trimmed forecasts for growth in Macau gaming revenue this month. Guangzhou Automobile Group Co. climbed 7 percent after a surge in first-quarter earnings.
