HONG KONG, March 24 China shares listed in Hong
Kong extended gains on Monday to reach a two-week high on
expectations the Chinese government could unveil stimulus
measures after a weak factory survey.
The China Enterprises Index of the top Chinese
listings in Hong Kong rose 2.8 percent to 9,695 points, its
largest daily gain since Nov. 18.
The Hang Seng Index closed up 1.9 percent at
21,846.5, its best day since Nov. 18.
Short-covering by investors in the energy sector also lifted
the H-share index, with heavyweight Petrochina
up 5.5 percent in Hong Kong.
Ports-to-telecoms conglomerate Hutchison Whampoa
fell 5.1 percent, its worst day since October 2011, after it
announced Singapore state investor Temasek holdings agreed to
buy a 24.9 percent stake in its retail business A.S. Watson for
about HK$44 billion ($5.67 billion).
China's manufacturing activity contracted for the third
straight month in March, a preliminary private survey showed on
Monday, the latest in a series of weak readings on the world's
($1 = 7.7588 Hong Kong Dollars)
(Reporting By Alice Woodhouse; Editing by Kim Coghill)