Oil giants help China shares outshine Asia, limit Hong Kong losses

lunes 3 de marzo de 2014 00:32 GYT

* HSI -0.7 pct, H-shares -0.6 pct, CSI300 +0.3 pct

* Focus on China annual parliamentary meeting opening Wed

* Sun Art rebounds from 1.5-year low after in-line earnings

* China property sinks after surveys show moderating home prices

By Clement Tan

HONG KONG, March 3 (Reuters) - China shares outperformed most Asian markets early on Monday, limiting losses in Hong Kong, with Sinopec and PetroChina firmer on hopes that coming parliamentary meetings will yield more progress on state-owned enterprises reform.

Still, the banking sector was broadly weaker after two surveys showed factory activity in the world's second-largest economy slowing to multi-month lows, potentially complicating Beijing's efforts to rebalance the economy.

The CSI300 of the leading Shanghai and Shenzhen A-share listings was up 0.3 percent, while the Shanghai Composite Index climbed 0.8 percent. The Nasdaq-style ChiNext Composite Index of mostly high tech startups listed in Shenzhen advanced 1.1 percent.

At midday, the Hang Seng Index was down 0.7 percent to 22,678 points. The China Enterprises Index of the leading offshore Chinese listings in Hong Kong, which was down by as much as 1.3 percent, slipped 0.6 percent.   Continuación...