Hong Kong shares end little changed, take breather after hitting 8-mth highs (Review)

Hong Kong shares ended little changed on Tuesday, taking a breather after hitting eight-month in highs the previous session, as falls in IT and utility stocks offset gains in energy and property plays.

The Hang Seng index fell 0.1 percent to 22,465.61 points, while the China Enterprises Index gained 0.3 percent to 9,301.17 points.

Markets were unfazed by data showing that China’s consumer price inflation eased to a six-month low, even as a long decline in producer prices continued to moderate, easing strains on some companies’ balance sheets, particularly in heavy industries.

IT shares fell 0.4 percent and utility stocks 0.2 percent, offsetting gains in energy and property plays.

Energy shares rose 0.6 percent, while property shares advanced 0.5 percent.

Developer China Evergrande Group rose 0.9 percent, extending gains to the fourth straight day. The stock hit a three-month high after the company said it had bought a stake in rival Vanke and raised its stake in goods trading company Langfang Development Co Ltd to 15 percent.

Source: reuters

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Asia Stocks Rise, Led by Japan, as Yen Falls After U.S. Payrolls

Asian stocks rose as the yen weakened after a strong U.S. jobs report, sending Japanese exporters higher.

The MSCI Asia Pacific Index climbed 0.2 percent to 136.04 as of 9:00 a.m. in Tokyo. Japan’s Topix index gained 1.1 percent after nonfarm payrolls climbed by 255,000 last month, exceeding all forecasts in a Bloomberg survey of 89 economists. The yen fell 0.3 percent to 102.08 per dollar, after dropping 0.6 percent on Friday as demand for haven assets waned.

Asian equities are resuming a rally that halted last week after a fresh round of Japanese fiscal stimulus disappointed investors. The regional measure has climbed about 21 percent from a February low, shrugging off the effects of Britain’s vote to leave the European Union, as central banks unleash further monetary easing while data from the labor market to retail sales and industrial production spur confidence in the world’s largest economy.

Source : Bloomberg

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