China shares extend winning streak after services PMI, Hong Kong joins rally

miércoles 3 de septiembre de 2014 00:51 GYT

* HSI +1.3 pct, H-shares +1.9 pct, CSI300 +0.7 pct

* Coal, property counters rebound after correction

* Small banks rise on progress with employee stock ownership plan (Updates to midday)

By Grace Li

HONG KONG, Sept 3 (Reuters) - China shares rose for a fourth straight day on Wednesday, spurred by two surveys showing activity in China's services sector rebounded in August after a drop in July, pushing the major indexes to multi-month highs.

The Hong Kong market followed suit, with its benchmark index scoring the best rise in six weeks.

The services purchasing managers' index (PMI) compiled by HSBC/Markit jumped to 54.1 in August - the strongest in 17 months - from a nine-year low of 50.0 in July, while the official non-manufacturing PMI rose to 54.4 from July's six-month low.

By midday, the Hang Seng Index, which had ended the previous three sessions flat, was up 1.3 percent at 25,077.46 points. The China Enterprises Index of the top Chinese listings in Hong Kong rose 1.9 percent.

The CSI300 of the leading Shanghai and Shenzhen A-share listings added 0.7 percent to its highest since mid-December, while the Shanghai Composite Index climbed 0.6 percent to 2,279.29 points, a 15-month high.   Continuación...