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Hong Kong stocks break four-day losing streak, aided by China surveys
March 1, 2017 / 8:24 AM / 9 months ago

Hong Kong stocks break four-day losing streak, aided by China surveys

March 1 (Reuters) - Hong Kong shares edged higher on Wednesday, snapping a four-day losing streak, helped by better-than-expected Chinese official and private factory activity surveys.

The benchmark Hang Seng index added 0.2 percent, to 23,776.49.

The Hong Kong China Enterprises Index lost 0.1 percent, to 10,287.98, as investors locked in profits after sharp recent share-price gains in Hong Kong.

Linus Yip, strategist at First Shanghai Securities Ltd, said the Hong Kong market benefited from the reports on the mainland’s economy but gains were limited as President Donald Trump’s speech to the United States Congress contained few specifics or surprises.

China’s factory activity expanded faster than expected in February, with growth in both output and orders accelerating, official and private factory surveys showed.

Most sectors gained ground at the close, with services stocks leading the gains, rising 2.1 percent.

Macau casino operators Sands China and Galaxy Entertainment Group Ltd jumped around 3.7 percent and 5.4 percent, respectively, as gambling revenue hit a two-year high in February. (Reporting by Jackie Cai and John Ruwitch; Editing by Richard Borsuk)

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