By Laura He, MarketWatch
Reuters Enlarge Image
HONG KONG (MarketWatch) -- Hong Kong stocks inched into the black Wednesday, rebounding from the previous losses, as a preliminary reading of China’s manufacturing activity surprised to the upside and printed at a four-month high.
The Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -1.09% rose 0.1%, with the Hang Seng China Enterprises /zigman2/quotes/210598031/delayed CN:160462 -1.13% , which tracks Hong Kong-listed mainland Chinese companies, edging 0.2% higher.
HSBC’s “flash” China Manufacturing Purchasing Managers’ Index rose to 50.1 in February, back above the 50-level separating expansion from contraction, compared with a final read of 49.7 in the previous month, data showed Wednesday.
In Hong Kong, market movers included Sino-British banking giant HSBC Holdings PLC /zigman2/quotes/202687335/delayed HK:5 -0.26% , recovering 0.9% after a 3.5% slide in the previous session.
Among other major index components, China Resources Land Ltd. /zigman2/quotes/202417326/delayed HK:1109 -1.26% climbed 2.2%, China Overseas Land & Investment Ltd. /zigman2/quotes/205731176/delayed HK:688 -2.34% advanced 2%, and both Bank of Communications Co. Ltd. /zigman2/quotes/203442771/delayed HK:3328 -0.58% and Tencent Holdings Ltd. /zigman2/quotes/204605823/delayed HK:700 -2.20% gained 0.5%.
Over on the mainland, the Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP +0.31% declined 0.6% on its first day of trade after a week-long Lunar New Year holiday.
In Japan, the Nikkei Average /zigman2/quotes/210597971/delayed JP:NIK -0.39% also closed in negative territory, down 0.1%, snapping a five-day winning streak. The broader Topix /zigman2/quotes/210598092/delayed JP:180460 -0.03% was off by less than 0.1%.
Elsewhere, South Korea’s Kospi Compoiste Index /zigman2/quotes/210598069/delayed KR:180721 -1.49% finished 0.7% higher, and Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.33% tacked on 0.3%.