Mainland
Chinese stocks traded in Hong Kong rose as investors awaited the
release of a private-sector gauge on manufacturing in the world��s
second-biggest economy.The Hang Seng China Enterprises Index, also known as the H-share index, climbed 0.5 percent to 9,853.51 as of 9:32 a.m. in Hong Kong. The Hang Seng Index, the benchmark gauge of the city��s equities, added 0.1 percent to 22,276.87.
The Hang Seng Index fell 4.5 percent this year through last week and the H-share gauge sank 9.4 percent amid mounting concern China won��t meet its 7.5 percent target for economic growth. The Hang Seng Index traded at 10.3 times estimated earnings on May 2, compared with 16 for the Standard & Poor��s 500 Index.
The final reading of a survey from HSBC Holdings Plc and Markit Economics due today is expected to signal Chinese factory activity contracted in April for a fourth month, with economists projecting a level of 48.4.
Copy Source : Bloomberg
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