2013.06.1001:18:55UTC+00Hong Kong stocks bolster, with banks progress

Hong Kong stocks surged in early Monday trade, hiking past lackluster Chinese economic data released over the weekend. The Hang Seng Index traded 0.5% higher to 21,677.17, with the Hang Seng China Enterprises Index rose 0.4%, while mainland Chinese bourses were closed until Thursday for a holiday. Monetaries were a strong spot after robust U.S. share wins Friday on the back of an above expectation May employment report. Industrial & Commercial Bank of China Ltd. rushed 1.2% higher, China Construction Bank Corp. and China Citic Bank Corp. zoomed 1.3% each, and Agricultural Bank of China Ltd. inched up with 0.6%. The property sector was mixed, meanwhile, with Sino Land Co. boosting 1.1%, but Hang Lung Properties Ltd. decreased 0.9%, and New World Development Co. declining 0.5% after reports that the firm has regulatory permission to spin off its hotel assets into a trust. The broad advance came despite showing slowing growth in May across much of the Chinese economy, including a much more meager rise for exports than economists had forecast. Hong Kong's Monday gains came after solid losses the previous week, with the Hang Seng Index surrendering more than 3%.