Hong Kong stocks edged higher before the release of key economic data from the US and China that will shape the outlook for monetary policies and show the magnitude of the recovery in the mainland economy.
The Hang Seng Index rose 0.3 per cent to 19,286.07 at the close in narrow-range trading. The Hang Seng Tech Index also added 0.3 per cent. In China, the CSI 300 Index slipped 0.6 per cent, and the Shanghai Composite Index retreated 0.4 per cent.
China Merchants Bank advanced more than 3 per cent after posting profit growth last year, and Semiconductor Manufacturing International Corp (SMIC) rallied on expectations that US tech curbs will lead China to push ahead with its self-reliance strategy. Gold producer Zijin Mining Group tumbled after it was added to a US blacklist for alleged forced labour linked to the Uygur ethnic minority.
All eyes will be on the US December inflation data due on Wednesday night after the blowout jobs data…
