June 3, 2014 / 8:07 AM / 4 years ago

Hong Kong shares close at highest in 5 months on China optimism

HONG KONG, June 3 (Reuters) - Hong Kong shares reached their highest close in five months, lifted by Chinese manufacturing surveys which reinforced hopes that China’s economy may be improving after a few rough months.

The Hang Seng Index gained 0.9 percent at 23,291.04 points, its highest close since Jan. 2. The China Enterprises Index of leading offshore Chinese listings in Hong Kong rose 1.2 percent.

Due to a Monday holiday, Tuesday’s trading was the first since China’s official manufacturing purchasing managers’ index (PMI) for May was reported on Sunday at 50.8. That was higher than an expected 50.6, while the HSBC/Markit final PMI reading was 49.4, its best performance in four months but lower than the flash 49.7 reading.

Agricultural Bank of China climbed 3.8 percent, while Industrial and Commercial Bank of China added 2.0 percent. Index heavyweight Tencent Holdings climbed 2.5 percent.

The Macau casino sector tumbled after data showed May revenue was 9.3 percent above a year earlier, below analyst estimates of 13-15 percent. Galaxy Entertainment Group lost 3.1 percent and Sands China slipped 1.4 percent. (Reporting by Grace Li; Editing by Richard Borsuk)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below