Author: 123jump.com Staff
123jump.com
Last Update: 5:12 PM EDT May 21 2008


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Hong Kong stock indexes gained on the heightened speculation that China will soon allow prices for oil products to increase. Traders speculated that Beijing will increase subsidies for oil refiners to cushion them from mounting losses on higher feedstock costs. In Hong Kong trading Hang Seng Index rose 1.16% or 290.83. Renminbi advanced to a level of 6.96 to one U.S. dollar.