HONG KONG, April 3 Hong Kong stocks gained
slightly on Monday morning, set to break a two-day run of
losses as investors bet on defensive energy and infrastructure
plays in the absence of clear direction.
Mainland markets were closed for holidays.
The benchmark Hang Seng index gained 0.28 percent to
24,178.44 by lunch break, while the Hong Kong China Enterprises
Index edged up 0.24 percent, to 10,297.92.
"Investors were continuing their portfolio re-balancing to
mark the first day of trade for the second quarter," said Steven
Leung, a director at UOB Kay Hian. "Focus was on infrastructure
plays in hopes of more favourable policy (from Beijing)."
Mainland stock markets will resume trade on Wednesday.
Kulun Energy rose 4.3 percent, to its highest
since Jul. 6, 2015, while China Shenhua rose 1.3
China's official Purchasing Managers' Index (PMI) rose to
51.8 in March from the previous month's 51.6, and was well above
the 50-point mark that separates growth from contraction on a
The reading was stronger than the 51.6 that economists had
expected and the highest since April 2012.
(Reporting by Donny Kwok; Editing by Eric Meijer)