Hong Kong equities climbed after CPI data

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Source: Dukascopy Bank SA
© Scanpix/AP
Hong Kong stocks started the week on the positive note after national inflation data indicated that the CPI jumped less than expected last month. Lower inflationary pressure fueled speculation that the central bank of China may ease its monetary policy. However, profit warnings from the largest China's companies restricted the upward trend of Hong Kong equities. The Hang Seng Index inched higher by 0.06% to close at 21,148.25. Four in nine sectors included in the index climbed. The top-performers were industrials and financials. Hutchison Whampoa gained 0.66% on easing hopes. Among banks, Bank of Communications, Bank of China and Construction Bank of China rose 0.87%, 0.33% and 0.52%, respectively.  On the downside were consumer goods and utilities. Belle International was the top-loser, declining by 4.25% after reporting slower than expected sale growth in the same stores in Q3. China Resources Power and Power Assets  sank 1.13% and 0.53%.


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