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Sunday, November 08, 2009
Hong Kong Shares Advance, But Shanghai Stocks Drop
By V. Phani Kumar
MarketWatch Pulse
HONG KONG -- Hong Kong shares climbed early Monday after U.S. stocks posted gains in spite of weaker-than-expected jobs data Friday, with insurers and airlines pacing the advance. The Hang Seng Index rose 1.1% to 22,066.88, with China Life Insurance Co. Ltd. rising 1.9% and Ping An Insurance Group Co. of China Ltd. up 2.2%, while Cathay Pacific Airways gained 2.1%. The Hang Seng China Enterprises Index rose 1.5%, unaffected by a drop for mainland China-listed stocks. The Shanghai Composite recently dropped 0.4% to 3,151.03, after rising in the previous six sessions.
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