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Hong Kong: Stocks have best gain in a month amid optimism on global economy
[HONG KONG] Hong Kong stocks started November on a bullish note, jumping the most in nearly a month, as Asian markets hit decade-highs on the back of solid economic growth globally.
Meanwhile, investors shrugged off a private survey showing China's manufacturing output rose at the weakest pace in fourth months in October.
The Hang Seng index rose 1.2 per cent, to 28,594.06. Most sectors rose in Hong Kong, with IT and telecom shares among the biggest gainers.
In China, blue-chip stocks slipped on Wednesday, with gains in resources and infrastructure firms offset by weakness in banks, and after a survey showed manufacturing output in October rose at the weakest pace in four months. The blue-chip CSI300 index fell 0.2 per cent, to 3,996.62, while the Shanghai Composite Index closed up 0.1 per cent at 3,395.91 points.