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NewsHong Kong shares close down 0.5 pct in 4th straight daily loss
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Hong Kong shares close down 0.5 pct in 4th straight daily loss
by Cals Mon 03 Jun 2013, 16:31
Hong Kong shares close down 0.5 pct in 4th straight daily loss
Business & Markets 2013
Written by Reuters
Monday, 03 June 2013 16:13
A + / A - / Reset
HONG KONG (June 3): Hong Kong shares fell for a fourth day on Monday as the prospect of tighter money supply in the mainland, along with contrasting surveys of manufacturing activity in China in May, raised growth concerns, hitting cyclical counters.
The Hang Seng Index closed down 0.5 percent at 22,282.2. The China Enterprises Index of the top Chinese listings in Hong Kong also slipped 0.5 percent. This was their respective fourth-straight loss.
The CSI300 of the leading Shanghai and Shenzhen A-share listings closed down 0.2 percent at 2,602.6 points. The Shanghai Composite Index slipped 0.1 percent.
HIGHLIGHTS:
* China's official manufacturing purchasing managers' index (PMI) for May came in on Saturday at 50.8, higher than an expected 50.1, but the HSBC final PMI reading was 49.2, the lowest since October 2012 and lower than the flash 49.6 reading.
* Zijin Mining sank 3.7 percent after the general manager at one of its subsidiaries, allegedly involved in economic crimes, surrendered to police.
* Macau casino stocks broadly held onto gains after data at midday showed gambling revenue in China's gambling enclave rose 13.5 percent in May from a year earlier. Analysts had forecast a rise of between 12 and 15 percent for May.
Business & Markets 2013
Written by Reuters
Monday, 03 June 2013 16:13
A + / A - / Reset
HONG KONG (June 3): Hong Kong shares fell for a fourth day on Monday as the prospect of tighter money supply in the mainland, along with contrasting surveys of manufacturing activity in China in May, raised growth concerns, hitting cyclical counters.
The Hang Seng Index closed down 0.5 percent at 22,282.2. The China Enterprises Index of the top Chinese listings in Hong Kong also slipped 0.5 percent. This was their respective fourth-straight loss.
The CSI300 of the leading Shanghai and Shenzhen A-share listings closed down 0.2 percent at 2,602.6 points. The Shanghai Composite Index slipped 0.1 percent.
HIGHLIGHTS:
* China's official manufacturing purchasing managers' index (PMI) for May came in on Saturday at 50.8, higher than an expected 50.1, but the HSBC final PMI reading was 49.2, the lowest since October 2012 and lower than the flash 49.6 reading.
* Zijin Mining sank 3.7 percent after the general manager at one of its subsidiaries, allegedly involved in economic crimes, surrendered to police.
* Macau casino stocks broadly held onto gains after data at midday showed gambling revenue in China's gambling enclave rose 13.5 percent in May from a year earlier. Analysts had forecast a rise of between 12 and 15 percent for May.
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