Hong Kong: Stocks end flat
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[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.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
Consumer goods shares rose but IT and raw material stocks dropped.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
Autobahn Rent A Car directors declared bankrupt over S$50 million each owed to DBS
Amazon’s MGM Studios gains creative control over ‘James Bond’ franchise
UOB’s Wee Ee Cheong says S$4.9 billion Citi deal ‘paying off’ as Asean push accelerates
In taxing wealth, how far can Singapore push property owners?
