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Hong Kong shares rise 1.1 pct to highest close since June 19

Source : REUTERS
Last Updated: Wed, Jul 10, 2013 08:20 hrs

HONG KONG, July 10 (Reuters) - Hong Kong shares hit a three-week closing high on Wednesday, lifted by a resurgent mainland market with traders citing talk that Beijing may ease policy to boost growth in the wake of anemic economic data.

The Hang Seng Index ended up 1.1 percent at 20,904.6 points, its highest closing since June 19. The China Enterprises Index of the top Chinese listings in Hong Kong climbed 1.8 percent.

These benchmarks had pared gains in the morning after data showed China exports fell for the first time in 17 months in June, stoking fears that second quarter growth will disappoint.

While June data met expectations for a $27.1 billion trade surplus, imports dipped 0.7 percent, versus an expected 8 percent growth, while exports dropped 3.1 percent, far below a projection for 4 percent growth.

Beijing is due to post monthly money supply and loan growth by July 15. Second quarter GDP is due on Monday, as are monthly urban investment, industrial output and retail sales figures.




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