** China's blue-chip CSI300 Index was down 0.5% by
the lunch break, while the Shanghai Composite Index dropped 0.7%.
** Hong Kong's benchmark Hang Seng Index added 0.6%%,
while the China Enterprises Index climbed 1.4%.
** China's service activity grew in April, a survey showed
on Friday, as businesses continued to benefit from a return to
pre-pandemic levels of demand and output, although expansion
slowed slightly.
** "As China's economic recovery continues, we expect
investor sentiment to gradually improve towards China equity,"
said Jian Shi Cortesi, investment director for China at GAM
Investments. "Admittedly, there are still a number of
uncertainties such as U.S.-China tensions and geopolitical
concerns."
** Tech giants listed in Hong Kong advanced 1.6%,
with Alibaba Group Holding Ltd up 1.6% after Bloomberg
News reported that the e-commerce's international online
shopping unit is exploring a U.S. listing.
** In mainland markets, AI-related stocks fell.
Communications equipment slumped 3.2%, and AI
shares slipped 2.1%,
** Real estate developers gained 2.6% amid
market expectations of more policy support after a survey showed
China's average daily home sales by floor area were down 22%
compared with the May Day holiday period before COVID-19.
** The Hang Seng Mainland Properties Index rose
3.1%.
** Mainland financials firms gained 1.2%, with
banks up 1.5% and brokers rising 1.6%.
(Reporting by Shanghai Newsroom; Editing by Sonia Cheema)
