HONG KONG, Oct 5 (Reuters) - Hong Kong stocks edged up in light trading on Monday, as optimism in AI-related stocks outweighed selling pressure in property shares.
** At the close, Hong Kong benchmark Hang Seng and the Hang Seng China Enterprises Index were both up 0.3%.
** The Hang Seng Tech meanwhile gained 0.6%
** AI supply chain and chipmaking shares led the gains. Index heavyweights Lenovo Group and Hua Hong Grace Semiconductor advanced more than 4% each.
** PCB maker Kingboard Laminates surged 12%.
** Shares in rate-sensitive sectors, meanwhile, continued to decline.
** Real estate firms dropped 0.7% to lead the declines. A financial subindex tracking big banks and insurance firms closed slightly down.
** China's onshore financial markets are closed from October 1 until October 7 for the National Day holidays. Trading will resume on October 8.
** The travel and retail sales data during the week-long holiday could provide an early signal on consumer demand heading into the fourth quarter.
** Citi analysts said the Golden Week activity looked "underwhelming" based on early data.
** Retail and tourism spending likely softened per traveller despite steady footfall, they said in a note.
** Shares of Budweiser Brewing Company APAC slipped to HK$5.555 in early trade, the lowest since their debut in September 2019.
** The brewer said it expects to record a $52 million non-underlying withholding tax charge resulting from an internal restructuring involving some of its Chinese mainland subsidiaries to enhance capital efficiency.
Reporting by Summer Zhen; Editing by Jochelle Mendonca and Tasim Zahid
Source: Reuters