Hong Kong shares close up 2 pct, limit February losses

Hong Kong shares close up 2 pct, limit February losses

Reuters, (28/2) - Hong Kong shares ended February with their best daily gain in two months on Thursday as sentiment improved after U.S. Federal Reserve Chairman Ben Bernanke reaffirmed his commitment to strong stimulus. The Hang Seng Index ended up 2 percent on the day, led by growth sensitive shares, but was down 3 percent on the month at 23,020.3. The China Enterprises Index of the top Chinese listings in Hong Kong rose 2.6 percent on Thursday, but sank 5.7 percent this month. Thursday gains were the best daily showing for both indexes since Jan. 2, while February losses were their respective worst since May 2012. Chinese property stocks jumped after the sector's biggest developer by sales, China Vanke, posted late on Wednesday 2012 earnings that trumped expectations. Official data on Friday could show Chinese factory activity probably grew at its slowest pace in four months in February as foreign demand remained sluggish. The median forecast from a Reuters poll of 14 economists showed the official purchasing managers' index (PMI) likely edged lower to 50.2 in February after seasonal adjustments, from January's 50.4. http://www.reuters.com/article/2013/02/28/markets-hongkong-stocks-close-idUSH9N0A800V20130228