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Chinese stocks trading in Hong Kong rose to the highest level in almost two weeks after the nation’s largest electricity producer reported earnings that beat some analysts’ estimates and automakers rallied.
Huaneng Power International Inc. climbed 2.2 percent to lead gains for utilities after its third-quarter profit beat Barclays Plc estimate by eight percent. BYD Co., the electric automaker partially owned by Warren Buffett’s Berkshire Hathaway Inc., advanced 1.3 percent after China said it would promote new energy car use in Beijing and surrounding areas.
Hong Kong’s Hang Seng China Enterprises Index (HSCEI) rose 0.6 percent to 10,332.40 at 9:39 a.m. local time, heading for the the highest level since Oct. 9. The Shanghai Composite Ind