Surveys are showing that Hong Kong shares may return weaker after the long weekend based on China's factory sector which slowed to noticeable multi month lows.
The Official Chinese PMI (Purchasing Manager's Index) showed the slip in June which is at 50.1 comparing it to May's 50.8. The difference can be termed as just a whisker above the set 50 point level which is an indicator for growth. On a separate PMI survey that was conducted, it showed that there was a 9-month low of around 48.2 comparing it May's 49.2. The survey was conducted by Markit and was monitored and sponsored by HSBC.
The Hang Seng Index closed last Friday at 1.8 % at 20,803.29 points while there was a noticeable rise of 1.7% in the China Enterprises Index for the top listing in Hong Kong.
Japan's Nikkei was up by at least 1.2% along with South Korea's KOSPI which was up by at least .03%.
Join the Conversation