China shares rebound on improved flash PMI, Hong Kong lingers near 2-mth lows
* HSI flat, H-shares +0.3 pct, CSI300 +0.7 pct
* China property firms rise on reports of loan rule-relaxing
* Military-related stocks stronger after president's comments
* CRE slips following a tumble in Tesco shares (Updates to midday)
By Grace Li
HONG KONG, Sept 23 (Reuters) - China shares on Tuesday clawed back some of the previous day's losses after a preliminary survey showed China's manufacturing sector unexpectedly picked up in September, while the Hong Kong market hovered near two-month lows.
The HSBC/Markit Flash China Purchasing Managers' Index (PMI) rose to 50.5 in September from August's final reading of 50.2, beating a Reuters poll forecast of 50.0.
The Hang Seng Index, which has fallen 10 out of the 12 past sessions, was flat by midday at 23,960.43 points. The China Enterprises Index of the top Chinese listings in Hong Kong was up 0.3 percent.
The CSI300 of the leading Shanghai and Shenzhen A-share listings and the Shanghai Composite Index both added 0.7 percent. The Shanghai benchmark stood at 2,304.89 points. Both closed at their lowest in two months on Monday. Continuación...