Hang Seng up despite negative U.S. manufacturing data

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Source: Dukascopy Bank SA
Hong Kong shares rose on Monday, despite the contraction in U.S. manufacturing sector. The Hang Seng Index added 0.3%, or 68.19 points, to 22,367.82. 30 out of 50 companies included in the gauge registered advance in price of share, while 18 companies declined. Tingyi Cayman Islands Holding Corp jumped 2.5% to HKD20.75, recovering from the biggest decline since August. Wharf Holdings Ltd rallied 2.2% to HKD70.75, capping further decrease in consumer services sector. The company plans to open one new shopping center each year from 2014 to 2016. Sino Land Co Ltd, a major developer and property company in Hong Kong, added 1.8% to HKD13.40. Alongside, Lenovo Group Ltd plunged 2.5% to HKD7.52, posting the biggest losses since June. China Merchants Holdings International Co Ltd followed with a 2.4% decline to close at HKD24.85, as the company's earnings release showed a 32% decrease in profit for the previous year. China Unicom Hong Kong Ltd, a Chinese state telecommunications operator, lost 1.9% to HKD10.20, capping further gains in telecommunications sector.
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