Reuters
HK Market
Hong Kong shares close up 0.1 pct, New World Development jumps
Fri, May 03 04:05 AM EDT

HONG KONG, May 3 (Reuters) - Hong Kong shares ended a holiday-shortened week on a tepid note on Friday, paring gains in the afternoon ahead of U.S. payrolls data later in the day and barely registering a gain on the week.

The Hang Seng Index closed up 0.1 percent at 22,690 points. The China Enterprises Index of the top Chinese listings in Hong Kong rose 0.2 percent. They gained 0.6 and 0.1 percent this week, respectively.

The CSI300 of the leading Shanghai and Shenzhen A-share listings ended up 1.8 percent. The Shanghai Composite Index rose 1.4 percent. They rose 1.9 and 1.3 percent in the holiday-shortened week, respectively.

HIGHLIGHTS:

* Hong Kong developer New World Development jumped 3.9 percent after announcing plans to spin off its hotel properties in an initial public offering.

* Chinese brokerages rose after the official Shanghai Securities News reported on Friday that new technical regulations rolled out by the Chinese central bank late on Thursday suggest that renminbi qualified foreign institutional investors (RQFII) quota approvals may be resumed after a two-month suspension.

WEEK AHEAD:

* Beijing will release a slew of April economic data next week, starting with trade data on Wednesday and inflation on Thursday, with money supply and loan growth expected between May 10-15.


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