Hong Kong shares rose on Monday after China's upbeat retail sales and factory output numbers pointed to some stabilisation in the world's second-largest economy, and as China's second-quarter economic growth met expectations.
At the close of trade, the Hang Seng index was up 83.26 points, or 0.29%, at 28,554.88. The Hang Seng China Enterprises index rose 0.47% to 10,838.99. The sub-index of the Hang Seng tracking energy shares rose 0.1%, while the IT sector gained 1.37%, the financial sector ended 0.01% lower and the property sector dipped 0.28%.
China’s economic growth slowed to 6.2% in the second quarter, its weakest pace in at least 27 years, as demand at home and abroad faltered in the face of mounting U.S. trade pressure.
But it was in line with analysts' expectations for the slowest pace since the first quarter of 1992, the earliest quarterly data on record, and more upbeat June factory output and retail sales offered signs of improvement.
Source : Reuters