HONG KONG: Hong Kong stocks swung between gains and losses as a report on China’s manufacturing activity missed estimates and home prices fell in 73 out of 100 cities surveyed by Soufun Holdings Ltd.
The Hang Seng Index is headed for its longest streak of weekly declines since November.
Citic Pacific Ltd, a Chinese steelmaker that’s opening an iron ore mine in Australia, dropped 1.5% after China’s purchasing managers index slowed for the first time in six months.
China Railway Construction Corp, a builder of train lines and other infrastructure, advanced 1.8%.
Zijin Mining Group Co, China’s largest producer of gold, climbed 3.3% after agreeing to buy the rest of Australia’s Norton Gold Fields Ltd.
The Hang Seng Index rose 5.17 points or less than 0.1% to 18,634.69 at 10:38 a.m. local time, with five stocks advancing for every four that fell. The gauge is headed for a 0.4% retreat this week.
Meanwhile, the Hang Seng China Enterprises Index of Chinese companies listed in Hong Kong was little changed at 9,691.73. (Bloomberg/T06/TW)