May 27, 2013 / 8:11 AM / 5 years ago

RPT-Hong Kong shares edge up 0.3 pct in tepid rebound from 4-week low

HONG KONG, May 27 (Reuters) - Hong Kong shares edged up from a 4-week low on Monday with Chinese PC maker Lenovo Group Ltd extending gains on the back of better-than expected quarterly profit.

The Hang Seng Index rose 0.3 percent to 22,686.05 points while the China Enterprises Index of the top Chinese listings in Hong Kong gained 0.3 percent.

The Shanghai Composite Index ended up 0.2 percent at 2,293.1 points. The CSI300 of the leading Shanghai and Shenzhen A-share listings inched up 0.1 percent.


* Lenovo rose 2 percent, helped by a slew of price target upgrades by brokerages after it reported a forecast-beating quarterly profit.

* Property and industrial sectors were broadly weak on Monday after China’s industrial profits growth quickened in April, but the pickup was mainly due to a low comparative base, suggesting demand remained slack.

* Solar panel sector rose after German Chancellor Angela Merkel and Chinese Premier Li Keqiang on Sunday called for an end to a trade row between Europe and China over solar panels and wireless equipment.

* Trading in Zoomlion Heavy Industry Science and Technology Co Ltd was suspended pending the company’s response to a mainland media report that said its sales data was false.

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