** China's blue-chip CSI300 Index ended 0.3%
lower, while the Shanghai Composite Index dropped 0.5%.
** Hong Kong's benchmark Hang Seng Index added 0.5%,
while the China Enterprises Index climbed 1.2%.
** China's services 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%,
with Alibaba Group Holding Ltd up 1.2% 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 shares slumped 2.8%, and
AI shares dropped 1.8%.
** Real estate developers gained 4.1% 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%.
** Mainland financials firms gained 1.3%, with
banks up 1.3% and brokers rising 1.6%.
(Reporting by Shanghai Newsroom; Editing by Sonia Cheema)
