Hong Kong shares have best day in three weeks on China PMI survey

PUBLISHED : Friday, 30 August, 2013, 2:17pm
UPDATED : Monday, 02 September, 2013, 5:00pm

Hong Kong shares closed at a two-week high on Monday, thanks to an upbeat China factory activity survey that raised hopes that a sharp economic slowdown in the world’s second-largest economy has been halted.

The final Markit/HSBC Purchasing Managers’ Index (PMI) climbed to 50.1 in August, up sharply from July’s 47.7 and in line with last week’s flash preliminary reading.

The Hang Seng Index closed up 2 per cent at 22,175.34 points in its best day since August 12. The China Enterprises Index of the top Chinese listings in Hong Kong rose 2.3 per cent to its best close in one week.