Hong Kong stocks finished flat in green territory on Monday, giving up early gains, as investors await key China data this week that could help them interpret the strength of the recovery of that economy.
The Hang Seng Index added 0.05%, or 8.93 points, to finish the day's trade at 16,732.85. The Hang Seng China Enterprises Index (HSCEI) moved 0.09%, or 5.40 points, to 5,868.97.
Market participants are eagerly awaiting Chinese inflation and foreign trade figures expected to be released in the coming days. The PBOC could also publish loans, money supply and aggregate financing data.
In corporate news, Budweiser Brewing (HKG:1876) shed some 6% after Jefferies warned the brewer could post flat sales in the first quarter. Rival China Resources Beer Holdings (HKG:0291) lost about 5%.
However, Huaneng Power International (HKG:0902) bucked the trend with an over 11% surge.
Over the weekend, data from the US showed the nation recorded stronger than expected nonfarm payroll data.
"The strength in the headline US labor market report for March is, in itself, unlikely to deter the [Federal Reserve] from rate cuts. The report showed it is a cyclical component of the economy where job gains are holding up, namely the education and healthcare sectors and the government sector," ANZ analysts wrote in a Monday note to clients.
"The FOMC will focus on the PCE deflator. March CPI data will be out this week. We expect core CPI to have risen 0.2% m/m in March (0.4% in February)", they added.