Hong Kong shares rebound from their 2013 low

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Source: Dukascopy Bank SA
Hong Kong equities advanced on Monday, rebounding from their Friday's 2013 low, as city government announced more stimulus to cool the market and strong results of HSMC Holdings offset the local developers' weakness. The Hang Seng index rose 0.2% to 22,280.1. All but two groups edged higher. The property sector of Hong Kong shrank after the city government introduced higher stump duties. Among best performers was Want Want China with its shares jumping 2.9% and boosting consumer goods shares that were 0.8% up. Esprit Holdings followed with a 2.4%, supporting consumer services group, while Cathay Pacific Airways Ltd. lifted industrials that were 01% higher, as it climbed 2.1% to HK$ 14.70. On the downside was Citic Pacific that eased 1.9%, pacing losses in basic materials. CHALCO followed with a 1.7% decline, while HK & China Gas lost 1.4%, triggering a 0.8% decline in utility group.
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