May 2, 2013 / 8:08 AM / 5 years ago

Hong Kong shares close down 0.3 pct, weak China PMIs weigh

HONG KONG, May 2 (Reuters) - Hong Kong shares fell from a seven-week high on Thursday as soft China manufacturing data put growth-sensitive counters on the defensive after markets returned from the Labour Day holiday.

The Hang Seng Index closed down 0.3 percent at 22,668.3, pulling away from Tuesday’s seven-week closing high. The China Enterprises Index of the top Chinese listings in Hong Kong shed 0.9 percent.

The CSI300 of the leading Shanghai and Shenzhen A-share listings closed a choppy session up 0.1 percent. The Shanghai Composite Index shed 0.2 percent to 2,174.1, closing just below its 200-day moving average for the first time since Christmas Eve.


* Jiangxi Copper fell 1.2 percent as Shanghai copper prices tumbled nearly 5 percent after the final HSBC Purchasing Managers’ Index (PMI) for China dropped to 50.4 in April from March’s 51.6. China’s official PMI on Wednesday fell to 50.6 in April from an 11-month high of 50.9 in March.

* Chinese property developers rose after the weak data boosted hopes that Beijing will relent on the enforcement of home price curbs despite average home prices in China’s 100 biggest cities posting an eleventh month-on-month price in April, a private survey showed on Thursday.

* Lenovo Group tumbled 2.7 percent in its worst day in two weeks after Fortune magazine reported that the Chinese personal computer maker and IBM have called off negotiations over a multibillion-dollar deal for Big Blue’s low-end server business.

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