* HSI, H-shares +0.1 pct; CSI300, Shanghai Comp flat
* Macau casinos lifted by SJM's positive Q1 earnings
* GOME jumps after rare profit alert
By Yimou Lee and Clement Tan
HONG KONG, May 7 Hong Kong and China shares
lingered at multi-week highs in choppy trade on Tuesday as
investors rotated out of recent outperformers ahead of April
China data that could offer fresh clues on the recovery in the
world's second-largest economy.
By midday, the Hang Seng Index was up 0.1 percent
from Monday's near two-month closing high to 22,946.2 points,
with chart resistance seen at 23,000. The China Enterprises
Index of the top Chinese listings in Hong Kong also
edged up 0.1 percent.
"23,000 is pretty strong resistance on the Hang Seng Index,
so investors are taking some profits on the outperformers for
now," said Larry Jiang, chief investment strategist at Guotai
Junan International Securities.
The Shanghai Composite Index and CSI300 of
the leading Shanghai and Shenzhen A-share listings were flat,
both hovering around two-week highs.
Fresh impetus could come from a slew of April China data,
starting with trade on Wednesday and inflation on Thursday, with
money supply and loan growth expected from Friday.
On Tuesday, Chinese financials were broadly weaker after a
recent strong run. CITIC Securities ,
China's largest listed brokerage, fell 2.9 percent in Hong Kong,
set for its worst day in five weeks.
But some growth-sensitive counters which have been battered
recently saw the bigger percentage gains. China National
Building Material, which tumbled 6.2 percent in April
after diving more than 17 percent in March, rose 2 percent on
SJM Holdings jumped 4 percent after the Macau
casino operator posted a 12 percent year-on-year increase in
first-quarter net profit late on Monday.
Earnings-related announcements drove some of the other more
significant moves on the day in a sign that earnings recovery
will be patchy and remain heavily company-specific.
GOME Electrical Appliances Holding, China's
second-largest home appliance retail chain operator, jumped 3.7
percent to six-week highs after issuing a rare profit alert
after several recent warnings.
GOME's Hong Kong-listed shares have dived 27 percent from
highs in mid-January, lagging a 2 percent loss in the China
Enterprises Index over the same period.
Shares of Yue Yuen Industrial (Holdings) Ltd
tumbled more than 11 percent to their lowest since last
September after the sports shoe maker warned of a downturn in
its first-quarter earnings due to rising costs and lower