Hong Kong stocks edged up on Monday, aided by strength in the China market, but gains were caped by fears that US dollar strength and rising US bond yields could accelerate portfolio outflows from emerging markets. The Hang Seng index rose 0.1 percent, to 22,357.78, while the China Enterprises Index gained 1.0 percent, to 9,444.71 points.
Mainland companies listed in Hong Kong rose sharply on Monday, with an index tracking such firms rising the most in nearly two weeks, helped by a buoyant Chinese market that climbed to a fresh-10 month high on Monday. But IT and utility stocks weakened. Wireless equipment provider Coolpad Group Ltd plunged to a four-year low, after the company warned that it expects to record about a HK$3 billion ($386.8 million) loss for 2016.
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