HONG KONG, Feb 15 (Reuters): Hong Kong shares edged up but were off the
day's highs by midday on Friday, with the Macau casino, Chinese Internet
and healthcare sectors among prominent outperformers.
Mainland markets also crept higher, rounding out strong gains this week as China and Hong Kong recovered from an emerging market sell-off late last month. Key benchmark indexes were set for their biggest weekly gains since September.
At midday, the CSI300 of the leading Shanghai and Shenzhen A-share listings was up 0.4 per cent, while the Shanghai Composite Index rose 0.5 per cent. On the week, they are each up more than 3 per cent.
The Hang Seng Index gained 0.4 per cent to 22,253.8 points, just shy of its 200-day moving average at about 21,494 points after having climbed nearly 3 per cent this week. The China Enterprises Index of the top offshore Chinese listings in Hong Kong was up 0.5 per cent after rising by as much as 1.3 per cent earlier in the day.
"This is a dead cat bounce," said Hong Hao, Bank of Communications International's chief equity strategist. "Everybody's looking for a trade with the sell-off, but inconsistent China data does not seem to point to any meaningful improvement."
Mainland markets also crept higher, rounding out strong gains this week as China and Hong Kong recovered from an emerging market sell-off late last month. Key benchmark indexes were set for their biggest weekly gains since September.
At midday, the CSI300 of the leading Shanghai and Shenzhen A-share listings was up 0.4 per cent, while the Shanghai Composite Index rose 0.5 per cent. On the week, they are each up more than 3 per cent.
The Hang Seng Index gained 0.4 per cent to 22,253.8 points, just shy of its 200-day moving average at about 21,494 points after having climbed nearly 3 per cent this week. The China Enterprises Index of the top offshore Chinese listings in Hong Kong was up 0.5 per cent after rising by as much as 1.3 per cent earlier in the day.
"This is a dead cat bounce," said Hong Hao, Bank of Communications International's chief equity strategist. "Everybody's looking for a trade with the sell-off, but inconsistent China data does not seem to point to any meaningful improvement."
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