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Hong Kong: Stocks dip, risk appetites cut by China data

[HONG KONG] Hong Kong shares fell on Tuesday, with investors' risk appetites curbed by a stronger-than-expected cooling in China's factory activity in October.

The Hang Seng index dipped 0.3 per cent, to 28,245.54, while the China Enterprises Index lost 0.5 per cent, to 11,507.72 points.

For the month, Hang Seng rose 2.5 per cent, while HSCE gained 5.5 per cent.

Investors were circumspect after the official Purchasing Managers' Index (PMI) on Tuesday showed growth in China's manufacturing sector slowed more than expected in October in the face of a weakening property market and tighter pollution rules.

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Shanghai stocks erased earlier losses to end slightly higher on Tuesday, underpinned by strong gains in transport firms even as China posted a disappointing October manufacturing activity index. Selling pressure eased after Monday's drop that was triggered by liquidity concerns on the mainland. China's treasury bonds steadied on Tuesday as the central bank moved to calm the market with cash injections.

The blue-chip CSI300 index fell 0.1 per cent, to 4,006.72, while the Shanghai Composite Index added 0.1 per cent to 3,393.34 points. For the month, CSI300 gained 4.5 per cent, while SSEC was up 1.3 per cent.

REUTERS

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