Global Market News

Hong Kong Hang Seng Up 0.37% on China Factory Reports; Street Protests Return


Last updated: 12/02/2019 05:16:11

05:16 AM EST, 12/02/2019 (MT Newswires) -- The Hong Kong Hang Seng Index on Monday opened higher and traded evenly, finishing up 0.37% after two upbeat reports on Sino factory activity. The Caixin/Markit November manufacturing PMI posted at 51.8, better than expected and still above the 50-threshold that separates growth from contraction. Also, on Saturday, Beijing released factory PMI data showing an increase to 50.2 in November, up from 49.3 in October.

The broad gauge Hang Seng rose 98.23 to 26.444.72, as gaining issues outnumbered losers 26 to 15.

Leading the upside were developers, including China Resources Land (1109:HK), up 4.3%, followed by Country Garden (2007:HK), up 2.8%, and then China Overseas Land )688:HK), up 2.7%.

On the downside were Sino Land (83:HK), off 2.2%, and then AAC Technologies (2018:HK), off 1.5%.

On the mainland, the Shanghai Composite rose 0.13% to 2,875.81.

In other news, office workers in Hong Kong's business district gathered for lunchtime pro-democracy protests, following recent election victories by pro-democracy candidates.

In economic news, a partial Sino-US trade deal is "stalled because of Hong Kong legislation," the news website Axios reported on Sunday.
Copyright © 2019 MT Newswires. All rights reserved. MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

Quotes displayed with 15 minutes delay. Market data provided by Factset. Powered and implemented by FactSet Digital Solutions. Legal Statement. News provided by MT Newswires, a Division of MidnightTrader, Inc. Events Data provided by Wall Street Horizon. ©2020 Wall Street Horizon, Inc.