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Hong Kong: Stocks end flat
[HONG KONG] Hong Kong stocks ended Wednesday roughly flat, capping a fifth month of gains as steady inflows of Chinese money helped push the main share index to its highest in nearly 23 months.
Sentiment on Wednesday was underpinned by a survey showing China's manufacturing sector expanded at a solid pace in May, easing concerns of a renewed economic slowdown.
Both the Hang Seng index and the China Enterprises Index fell 0.2 per cent, to 25,660.65 and 10,602.97 points, respectively.
For the month, the Hang Seng was up 4.2 per cent, while the HSCE gained 3.7 per cent.
China's official manufacturing Purchasing Managers' Index (PMI) was at 51.2 in May, unchanged from April, suggesting the authorities were having some success in stabilising the broader economy without risking a sharper slowdown in growth as they try to defuse bubble risks from years of credit-fuelled stimulus.
Sector performance was mixed.
Consumer goods shares rose but IT and raw material stocks dropped.