The manufacturing sector in China moved back into expansion territory in February, the latest survey from Caixin revealed on Wednesday with a PMI score of 51.6. That's up from 49.2 in January, and it moves above the boom-or-bust line of 50 that separates expansion from contraction. The non-manufacturing PMI also gained in February, to 56.3, well above than the prior month's reading of 54.4.
Strength in both manufacturing and non-manufacturing activity saw China's composite PMI jump 56.4 in February - its fastest pace in over three years.
At closing bell, the benchmark Hang Seng Index spurted 833.77 points, or 4.21%, to 20,619.71. The Hang Seng China Enterprises Index surged 332.83 points, or 5.06%, to 6,914.30.
Among blue chips, Tencent Holdings which advanced 7.3% to HK$368.80 and property developer Longfor surged 9.6% to HK$24.55. Search engine giant Baidu jumped 7.6% to HK$145 while Alibaba Group leapt 6.2% to HK$91.90. Electric car maker BYD climbed 6.3% to HK$224.40 while Geely Auto gained 4.3% to HK$10.62.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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