Hong Kong: Shares edge up, supported by China policy view

[HONG KONG] Hong Kong stocks edged up on Monday, aided by a bullish mainland market after China's March inflation came in lower than forecast and fanned optimism Beijing will keep monetary policy loose.

The Hang Seng index rose 0.4 per cent, to 20,440.81, while the China Enterprises Index gained 1.2 per cent, to 8,807.06 points.

China's annual March consumer price figure came out surprisingly unchanged from the previous month at 2.3 per cent, while wholesale prices remained stubbornly in deflation, down 4.3 per cent, although the pace of decline eased.

Most sectors rose in Hong Kong, with energy and raw material shares among the biggest gainers.

Shares of Prada SpA slumped 7.8 per cent to 5-week lows as weak China sales hit profit.

REUTERS

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