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 +1.11% rose 0.1%, with the Hang Seng China Enterprises /zigman2/quotes/210598031/delayed CN:160462 +0.63% , 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 +1.99% , 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 0.00% climbed 2.2%, China Overseas Land & Investment Ltd. /zigman2/quotes/205731176/delayed HK:688 +0.22% advanced 2%, and both Bank of Communications Co. Ltd. /zigman2/quotes/203442771/delayed HK:3328 +1.39% and Tencent Holdings Ltd. /zigman2/quotes/204605823/delayed HK:700 +0.52% gained 0.5%.
Over on the mainland, the Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP +1.77% 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 +2.32% also closed in negative territory, down 0.1%, snapping a five-day winning streak. The broader Topix /zigman2/quotes/210598092/delayed JP:180460 +1.86% was off by less than 0.1%.
Elsewhere, South Korea’s Kospi Compoiste Index /zigman2/quotes/210598069/delayed KR:180721 +1.00% finished 0.7% higher, and Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.45% tacked on 0.3%.