* HSI +0.2 pct, H-shares +0.1 pct, CSI300 -0.1 pct
* Property and industrial sectors weak on slack industrial
* Zoomlion suspended pending the company's response to a
false sales data report
By Yimou Lee
HONG KONG, May 27 (Reuters) - Hong Kong shares edged up on
Monday after a four-day losing streak but mainland markets
remained under pressure after new data pointed to an uncertain
pace of recovery in the world's second-largest economy.
A report in the People's Daily that China may not launch new
stimulus amid concerns of a debt buildup and overcapacity from a
previous programme added to the negative sentiment.
At midday, the Hang Seng Index rose 0.2 percent from
its four-week low to 22,669.37 points. The China Enterprises
Index of the top Chinese listings in Hong Kong gained
Midday turnover in Hong Kong was at its lowest since
The CSI300 fell 0.1 percent, while the Shanghai
Composite Index was flat at 2,288.76 points.
China's industrial profits growth quickened in April from
the previous month, though the government noted that the pickup
was due mainly to a low comparative base, indicating that the
economy still faces slack domestic and external demand.
"The investors should avoid bottom-fishing, particularly in
those policy-related stocks," said Castor Pang, Core
Pacific-Yamaichi Securities' head of research.
"Unless we see some exceptionally good figures, the market
will keep seesawing in the near term," he said.
Property and industrial sectors were broadly weak on Monday.
China Vanke fell 1.3 percent in Shenzhen after
testing its highest since Feb. 5 last week. In Hong Kong, Agile
Property dropped 1 percent, set for its lowest close
in more than one month, while Poly Property fell 0.6
Sany Heavy Industry fell 1 percent in Shanghai,
while trading in its rival Zoomlion Heavy Industry Science and
Technology Co Ltd was suspended pending the company's
response to a mainland media report that said its sales data was
Wuhan Steel fell 0.4 percent while its bigger
rival Baotou Steel dropped 1 percent after Chinese
steel futures fell to their weakest levels in nearly nine months
Shares in Winteam Pharmaceutical Group Ltd jumped
14.4 percent after the company said it would buy a 100 percent
stake of Tongjitang Chinese Medicine Company from Hanmax
Investment Ltd and Fosun Industrial Co Ltd for 2.64 billion