Hong Kong’s developers rose, led by Sino Land Co. after Citigroup lifted its share-price forecast for the stock.

Sino Land, a developer controlled by the billionaire family of Chairman Robert Ng, jumped 8.9%. Daphne International Holdings Ltd. soared 12% after announcing that it will issue convertible bonds to TPG Capital. Cnooc Ltd, China’s biggest offshore oil producer, declined 2.5% after crude oil prices dropped.

'Hong Kong may see inflation next year, which should help sentiment and asset valuation of property stocks,' said Kenny Tang, executive director of Redford Securities Co.

bloomberg.com