Hong Kong shares advance on Chinese non-manufacturing data

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Source: Dukascopy Bank SA
Hong Kong equities extended their gains, as data showed China's non-manufacturing PMI gained December, the most in four months. The index advanced from 55.6 in November to 56.1 in December, contributing to economic rebound. The Hang Seng index increased 0.4% to 23,398.60 after earlier losing 0.3%. The benchmark index closed at its 19-month high yesterday. All but two groups in the index edged higher. Utilities sector posted biggest losses, as mainland power producer China Resources Power Holdings Co. dropped 3% to HK$19.78 and Huaneng Power International lost 2.6% to HK$7.20. Belle Int'l shares gained 4%, leading gains in the consumer services sector that inched 1.1% higher. Meanwhile, Esprit Holdings added 4.3% to HK$11.60, prompting an increase in the Hang Seng consumer goods index. Alongside to that, China RES Land stocks advanced 4% to HK$23.30 and Cosco Pacific jumped 3.7% to HK$11.76, lifting up the financials shares that increased 0.44%.

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