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Hong Kong stocks advance at end of trade, Hang Seng surges 0.4pc

Hong Kong stocks advance at end of trade, Hang Seng surges 0.4pc

HONG KONG: Hong Kong stocks rose on Wednesday, bolstered by financial and property shares as well as a sharp rebound in blue-chips in mainland China.

But gains were capped by downbeat U.S. manufacturing data which raised questions about the U.S. economy and the pace of expected interest rate rises by the Federal Reserve.

The Hang Seng index ended up 0.4 percent at 22,479.69 points, while the China Enterprises Index gained 1.0 percent to 10,050.36.

Property and financial shares strengthened but energy and technology stocks sagged.

Shares of VTech Holdings Ltd lost nearly 2 percent after the digital toymaker said a cyber attack on the company exposed the data of 6.4 million children, in what experts called the largest known hack targeting youngsters.