Hong Kong - Hong Kong shares closed 0.24 percent higher Monday as better-than-forecast Chinese trade data helped to erase an initial sell-off fuelled by fresh Wall Street losses.
The Hang Seng Index added 54.84 points to 23,143.38 on a turnover of HK$67.82 billion (R97 billion).
Eyes were on the streets of Hong Kong Monday as clashes erupted between pro-democracy protesters and government supporters after police began removing barricades that have blocked some main roads for two weeks, though the effect on the market was unclear.
Beijing on Monday said September exports rose 15.3 percent year-on-year and imports climbed 7.0 percent.
The rise in exports accelerated from August's 9.4 percent and was ahead of the median forecast of 12.5 percent.
The forecast had predicted a fall of 2.4 percent in imports, matching a surprise decline in August.
But while the figures beat expectations and come as a rare bright spot for the country following a recent run of disappointing data, traders are still worried about the strength of world's number-two economy.
Desmond Chua, market analyst at CMC Markets, told Dow Jones Newswires the data “was a lot more disappointing than we had expected” and “cements the view that China might be in for quite a hard landing”.
Attention returned to pro-democracy demonstrations as masked men rushed barricades at the main protest site Monday, triggering clashes.
Taxi drivers, many of whom have voiced frustration at the blocked roads and traffic gridlock, added to the fray by converging on the site beeping horns and shouting at demonstrators.
The HSI tumbled more than three percent in the first two days of the protest that began two weeks ago but soon recovered in the following week as fears of the impact of the stand-off subsided.
HSBC lost 0.26 percent to end at HK$78.2, Internet firm Tencent slipped 0.52 percent to HK$115.1 and China Mobile added 1.68
percent to HK$93.9, while Hong Kong Exchange added 1.53 percent to HK$172.5.
In mainland China the benchmark Shanghai Composite Index fell 0.36 percent, or 8.53 points, to 2,366.01 on turnover of 175.4 billion yuan ($28.6 billion).
The Shenzhen Composite Index, which tracks stocks on China's second exchange, slipped 0.08 percent, or 1.13 points, to 1,349.47
on turnover of 202.4 billion yuan.
“After the data release, investors now think the upcoming figures won't be that bad,” Central China Securities analyst Zhang Gang told AFP.
“But it's still unclear whether the government will take further measures (to boost economic growth),” he said.
Beijing will release September inflation data Wednesday and other statistics, including retail sales, next week.
In Shenzhen, DragonNet Technology slumped 5.88 percent to 24.64 yuan while Longmaster Information and Technology dropped 4.30 percent to 102.40 yuan.
FAW Xiali Automobile soared by its 10 percent daily limit to 5.58 yuan in Shenzhen, while Guangzhou Automobile Group rose 1.21 percent to 8.36 yuan in Shanghai.
Also in Shanghai, Hainan Airlines eased 1.43 percent to 2.07 yuan, while China Merchants Bank dipped 0.48 percent to 10.42 yuan. - Sapa-AFP