Bloomberg (04/11)
-- Hong Kong stocks swung between gains and losses after a gauge of
China’s non-manufacturing industries rose, while mainland developers
dropped amid concern the nation will introduce more measures to curb
house prices.Air
China Ltd., the nation’s No. 1 carrier by market value, increased 1.1
percent. Shunfeng Photovoltaic International Ltd., a maker of solar
cells, surged 18 percent after announcing an acquisition plan. China
Resources Land Ltd., the second-largest mainland property company traded
in Hong Kong, dropped 2.4 percent after the southern Chinese city of
Shenzhen said property buyers must have at least a 70 percent
down-payment for their second homes.The
Hang Seng Index dropped 0.2 percent to 23,208.71 as of 1:15 p.m. in
Hong Kong, after rising as much as 0.4 percent. About three stocks
climbed for every two that fell on the 50-member gauge, amid volume that
was 19 percent less than the 30-day intraday average. The Hang Seng
China Enterprises Index of mainland shares listed in the city advanced
0.2 percent to 10,702.53.
