Shanghai Composite bounces 0.87%

Mainland China share market advanced on Tuesday, 23 September 2014, recouping almost half of yesterday's losses, after private survey data showed that China's manufacturing activity unexpectedly picked up pace in September. The benchmark Shanghai Composite index advanced 19.85 points, or 0.87%, to finish at 2309.72. The CSI 300 index was up 20.54 points, or 0.86%, to 2399.46.

The HSBC flash manufacturing Purchasing Managers' Index (PMI) rose to 50.5 from a final reading of 50.2 in August, better than expectations for a reading of 50, which separates expansion from contraction. The final HSBC/Markit manufacturing PMI for the month is due on Sept. 30, while the official reading from the National Bureau of Statistics and China Federation of Logistics and Purchasing will be released on October 1.

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