Hong Kong shares rise on upbeat data, China propped up by property

lunes 9 de junio de 2014 01:03 GYT
 

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

* China property firm on reported comment from housing official

* Great Wall Motor tumbles after May sales disappoint (Updates to midday)

By Grace Li and Lu Jianxin

HONG KONG/SHANGHAI, June 9 (Reuters) - Hong Kong shares gained on Monday, underpinned by optimism over U.S. jobs and China exports data which supported the view of an improving global economy.

China shares reversed early losses and ended the morning session higher buoyed by strength in bank and property firms, as some investors bet on possible Chinese monetary policy easing.

U.S. jobs data on Friday showed that non-farm payrolls increased by 217,000 last month, bringing employment back to its pre-recession level and validating the view that labour conditions were improving. The unemployment rate held steady at a 5-1/2 year low of 6.3 percent.

In China, exports in May rose a better-than-expected 7 percent from a year earlier, quickening from April's 0.9 percent rise, though imports were disappointing with a drop of 1.6 percent, data showed on Sunday.

By midday, the Hang Seng Index was up 0.7 percent at 23,114.33 points, set to snap a 3-day losing streak. The China Enterprises Index of the top Chinese listings in Hong Kong also gained 0.7 percent.   Continuación...