Hong Kong: Shares end higher on weak US data

[HONG KONG] Hong Kong stocks rallied Monday as a soft US growth reading reduced the chances the Federal Reserve will raise interest rates this year.

But Shanghai tumbled on data showing Chinese factory activity contracted in July.

The Hang Seng Index added 1.09 per cent, or 237.77 points, to end at 22,129.14.

The benchmark Shanghai Composite Index fell 0.87 per cent, or 25.95 points, to 2,953.39. The Shenzhen Composite Index, which tracks stocks on China's second exchange, dropped 1.49 per cent, or 28.91 points, to 1,912.65.

AFP