2013.05.2301:54:50UTC+00Hong Kong stocks retreat before China factory data

Hong Kong stocks shot down early Thursday as concerns that the Federal Reserve was considering wrapping up its bond purchases weighed on sentiment, with investors also cautious ahead of a preliminary reading on Chinese manufacturing activity in May. The Hang Seng Index gave up 0.9% to 23,051.27 and the Hang Seng China Enterprises Index relinquished 0.9% to 10,952.08. Financial stocks paced the drop, with heavyweights HSBC Holdings PLC, China Construction Bank Corp. and AIA Group Ltd. discharging 0.8%, 1.2% and 1.3%, respectively. Among other notable droppers, food-product makers Tingyi Cayman Islands Holding Corp. and Want Want China Holdings Ltd. surrendered 2.3% and 2.2%, respectively. China's Shanghai Composite eased 0.4%, ahead of the HSBC flash Purchasing Managers' Index for May, which is expected to show a mild and steady development in activity during the month.