Hong Kong Stocks Rise as Shanghai Shares Rally; Reorient Jumps

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Hong Kong’s Hang Seng Index rises 0.6% to 27,597.16, reversing earlier loss and capping its first gain in four days.

  • Huatai Securities +4.8% on H.K. debut
  • Reorient +152% as it resumes trading; Jack Ma-backed fund buys majority stake
  • Belle +5.3%, Bank of Communications +4.5%, leading gains on HSI
  • Hanergy remains suspended; shrs fell to a record discount in bidding on U.S. over-the-counter markets
  • HSCEI +1.4%, MSCI HK +0.5%, Shcomp +4.7%
  • Sands China -3.7%, Galaxy -4.5%, leading drop on HSI; Macau’s casino revenue drops 37% y/y in May
  • Zoomlion shrs suspended pending “inside information announcement”
  • NOTE: China’s May manufacturing PMI 50.2 vs est. 50.3; final HSBC China manufacturing PMI 49.2, in-line with est.

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