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Hong Kong - Shares in Hong Kong and Shanghai rallied on Wednesday as investors welcomed data showing a pick-up in China's service's sector, which helped temper weak manufacturing reports earlier in the week.
Hong Kong's Hang Seng Index surged 2.30%, or 568.93 points, to 25 318 on turnover of $12.97bn.
HSBC said its services purchasing managers index (PMI) hit a seven-month high of 54.1 last month, while the official PMI climbed for the first time in three months, to 54.4. A figure above 50 indicates growth and anything below points to contraction.
The results helped temper disappointment at Monday's manufacturing PMIs, which added to concerns about the world's number two economy.
Traders were given a bright cue from the United States, where the PMI from the Institute for Supply Management, picked up pace in August, hitting its best level since August 2011.
However, that was unable to funnel through to Wall St, where the Dow fell 0.19% and the S&P 500 slipped 0.07%, although the Nasdaq added 0.39%.
Henderson Land Development surged 6.18% to HK$55.00, Ping An Insurance of China added 3.57% to HK$65.30 and HSBC edged up 0.54% to HK$83.65.
China Mobile climbed 3.57% to HK$101.5, Internet giant Tencent added 2.94% to HK$129.4 and Bank of China was 2.51% higher at HK$3.68.
In China the benchmark Shanghai Composite Index jumped 1%, or 22.58 points, to 2 288.63 - its highest since June 2013 - on turnover of 187.6 billion yuan ($30.5bn).
The Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 0.77%, or 9.68 points, to 1 258.74 on turnover of 210.9 billion yuan.
"Funds returned to the market after new share subscriptions," Shenyin & Wanguo Securities analyst Qian Qimin told AFP.
"Investors bought transportation and media companies following related government policies and industry news," he added.
Funds returned to the market after eight companies that offered shares last week released funds locked up by the subscriptions, analysts said.
Port operators and shipping firms gained after the government issued guidelines for the maritime shipping sector, including encouraging private investment.
Zhuhai Port jumped 6.17% to 5.68 yuan in Shenzhen and China Shipping Container Lines advanced 5.02% to 2.93 yuan in Shanghai.
Media firms rose on hopes they will benefit from a government policy released last month to encourage the growth of large media groups.
Northern United Publishing & Media Group surged by its 10% daily limit to 10.77 yuan in Shanghai and Hualu Baina Film & TV gained 3.73% to 33.93 yuan in Shenzhen.
