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Hong Kong stocks break four-day losing streak, aided by China surveys

A trader walks inside the trading hall during afternoon trading at the Hong Kong Stock Exchange. — Reuters picA trader walks inside the trading hall during afternoon trading at the Hong Kong Stock Exchange. — Reuters picHONG KONG, March 1 — Hong Kong shares edged higher today, snapping a four-day losing streak, helped by better-than-expected Chinese official and private factory activity surveys.

The benchmark Hang Seng index added 0.2 per cent, to 23,776.49.

The Hong Kong China Enterprises Index lost 0.1 per cent, to 10,287.98, as investors locked in profits after sharp recent share-price gains in Hong Kong.

Linus Yip, strategist at First Shanghai Securities Ltd, said the Hong Kong market benefited from the reports on the mainland’s economy but gains were limited as President Donald Trump’s speech to the United States Congress contained few specifics or surprises.

China’s factory activity expanded faster than expected in February, with growth in both output and orders accelerating, official and private factory surveys showed.

Most sectors gained ground at the close, with services stocks leading the gains, rising 2.1 per cent.

Macau casino operators Sands China and Galaxy Entertainment Group Ltd jumped around 3.7 per cent and 5.4 per cent, respectively, as gambling revenue hit a two-year high in February. — Reuters

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