Hong Kong shares edge up on upbeat flash PMI, China tepid

lunes 23 de junio de 2014 00:54 GYT
 

* HSI +0.3 pct, H-shares +0.2 pct, CSI300 +0.1 pct

* Encouraging China flash PMI boosts HK, Shanghai nonplussed

* China medical devices sector rises on more govt support

* Great Wall Motor dips to one-month low after management changes (Updates to midday)

By Grace Li

HONG KONG, June 23 (Reuters) - Hong Kong shares rose on Monday after a preliminary survey showed activity in China's factory sector expanded in June for the first time in six months, offering new signs the economy is stabilising.

Shares in China ended a choppy morning session barely changed, however, as a liquidity squeeze resulting from new initial public offerings (IPOs) is not expected to improve before the end of the month.

The HSBC/Markit Flash China Manufacturing Purchasing Managers' Index rose to 50.8 in June from May's final reading of 49.4, beating a Reuters poll forecast of 49.7 and creeping above the 50-point level that separates growth in activity from contraction.

It was the first time since December that the PMI was in growth territory, and the highest reading since November, when it was also 50.8.   Continuación...