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CORRECTED-Hong Kong shares close up 0.5 pct, Li & Fung, ANTA Sports surge
May 15, 2013 / 8:06 AM / 5 years ago

CORRECTED-Hong Kong shares close up 0.5 pct, Li & Fung, ANTA Sports surge

(Corrects price moves for ANTA and Li & Fung)

HONG KONG, May 15 (Reuters) - Hong Kong shares rebounded from a one-week low on Wednesday but investors were mainly focused on a handful of stocks on hopes of an earnings turnaround.

The Hang Seng Index ended up 0.5 percent at 23,044.2 points after closing on Tuesday at its lowest since May 6. The China Enterprises Index of the top Chinese listings in Hong Kong also rose 0.5 percent.

The CSI300 of the leading Shanghai and Shenzhen A-share listings closed up 0.5 percent at 2,506.9 points. The Shanghai Composite Index, which ended Tuesday at its lowest since May 3, inched up 0.4 percent.

HIGHLIGHTS:

* Li & Fung surged 8.4 percent in its best daily gain since November 2011 after its chairman was reported to have said he expects earnings to return to 2011 levels, while UBS upgraded its view on shares of the supply chain manager from “sell” to “neutral”.

* ANTA Sports jumped 9.3 percent as investors cheered its flat rate of same-store sales growth in the first quarter after the company had warned of negative figures for the first two months of the year while reporting its 2012 annual results. (Reporting by Clement Tan; Editing by Kim Coghill)

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