Hong Kong shares headed for 1st gain in 4 days, China rise after inflation data

Hong Kong shares headed for 1st gain in 4 days, China rise after inflation data

Reuters (09/4) - HONG KONG - Hong Kong shares were on track for their first gain in four days, while mainland China markets rebounded from Monday's four-month closing low after China inflation rose less than expected in March, easing concerns about potential near-term tightening moves from Beijing. Official data showed annual consumer inflation in the world's second-largest economy eased to 2.1 percent in March from February's 3.2 percent data, while producer prices ine the same month dropped 1.9 percent, sharper than the annual 1.6 percent drop in February. At 0215 GMT, the Hang Seng Index was up 1 percent, while the China Enterprises Index of the leading Chinese listings in Hong Kong returned above its 200-day moving average with a 2.1 percent gain. In the mainland, the CSI300 of the top Shanghai and Shenzhen A-share listings climbed 1 percent, while the Shanghai Composite Index rose 0.8 percent. Bird flu jitters in the last few days had compounded a selloff since an early February peak in both the China and Hong Kong markets. http://www.reuters.com/article/2013/04/09/markets-hongkong-china-stocks-idUSL3N0CW09M20130409