HONG KONG Feb 1 Hong Kong shares eked out a
gain for the week after an afternoon surge in the mainland
Chinese market helped pare Friday losses rooted in how an
official survey of manufacturing activity in China lagged
The Hang Seng Index closed flat at 23,721.8 on Friday
but inched up 0.6 percent on the week. The China Enterprises
Index of the top Chinese listings in Hong Kong gained
0.7 percent on Friday and 1.8 percent this week.
In the mainland, the CSI300 of the top Shanghai
and Shenzhen A-share listings ended up 2.1 percent on the day
and 6.7 percent for the week. The Shanghai Composite Index
>.SSEC> climbed 1.4 percent on Friday and 5.6 percent this week.
* Chinese property counters were broadly weaker after the
official China Securities Journal newspaper reported that China
will postpone expansion of a pilot programme to implement a
property tax and that Beijing intends to keep a tight lid on the
real estate market through other means in tier 1 cities. A
private survey showed average home prices in China's 100 biggest
cities rose 1 percent in January from December, worsening the
* Wynn Macau shed 2.3 percent, underperforming the
Macau casino sector after getting hit by its parent company's
underwhelming quarterly earnings. This was further aggravated by
data showing Macau gambling revenue rose a lower-than-expected
7.3 percent from a year before.
* Markets had started the day weaker after China's official
purchasing managers index (PMI) eased to 50.4 for January, below
December's 50.6 reading and below forecasts for a nine-month
high of 50.9. But another private survey released by HSBC showed
growth quickening to a two-year high in January. But both
surveys showed factory output in the world's second-largest
economy rose in January, though the starkly different speeds
suggest a patchy revival in activity.