* HSI -0.5 pct, H-shares -0.6 pct, CSI300 +1.3 pct
* HK resumes trade after Typhoon Usagi suspends morning
* Mengniu, Yili lifted by reported govt cash to aid
* Most Shanghai trade zone stocks up ahead of reported
* Sliding gold prices push Zijin Mining off 3-1/2-mth high
By Clement Tan
HONG KONG, Sept 23 China shares outperformed
most other Asian markets on Monday, limiting losses in Hong
Kong, after a survey showed manufacturing activity in the
world's second-largest economy accelerated to a six-month high
The flash China HSBC Purchasing Managers' Index (PMI)
climbed to 51.2 in September from a final 50.1 reading in
August, hitting a high not seen since March. A breakdown of the
data showed 10 of 11 sub-indices rose in September.
By 0600 GMT, the CSI300 index of the leading
Shanghai and Shenzhen A-share listings was up 1.3 percent, while
the Shanghai Composite Index rose 1.1 percent.
The Hang Seng Index was down 0.5 percent and the
China Enterprises Index of the top Chinese listings in
Hong Kong slipped 0.6 percent. Trading resumed in the afternoon
after Typhoon Usagi forced the morning session to be scrubbed.
Markets in Hong Kong were shut last Friday for the
Mid-Autumn Festival holiday. Mainland China was trading for the
first time since last Wednesday and will be closed again from
next Tuesday for a week-long National Day holiday.
"We are in between two major holiday periods in the mainland
and at month's end, so any gains this week for the large cap
A-share market will likely be capped since liquidity supply
could be an issue," said Zhang Qi, a Shanghai-based analyst at
"Many stocks have also risen a lot in a short time earlier
this month, so investors will be looking to lock in some profits
as well," Zhang added.
The ChiNext Composite Index, China's Nasdaq-like
board for high-growth, mainly high-tech start up firms, soared
2.5 percent to its highest since December 2010.
Apple suppliers Goertex jumped 5.2 percent in
Shenzhen, while AAC Technology gained 0.8 percent
after the first day of sales for Apple's new iPhones
drew long queues. One analyst said the first weekend would
likely top the initial sales figures of last year's model.
Chinese milk powder makers Inner Mongolia Yili Industrial
Group jumped 3.5 percent in Shanghai and China
Mengniu Dairy climbed 4 percent in Hong Kong.
The official China Business Journal reported on Saturday
that both firms are among those set to share a government
support of about 30 billion yuan ($4.90 billion) to aid sector
Counters seen benefitting from an approved Shanghai
free-trade zone also saw strong gains. Various local media had
reported the initiative could be launched at the end of the
month or early October.
Shanghai Lujiazui Finance & Trade Zone Development Co Ltd
surged by the maximum 10 percent limit, while
Shanghai Waigaoqiao Free Trade Zone Development Co Ltd
spiked 9.4 percent.
But Shanghai Pudong Development Bank was weaker,
along with most financial counters. Pudong Bank dipped 0.6
percent, underperforming the 0.1 percent loss for the Shanghai
China's largest gold producer Zijin Mining tumbled
4.5 percent in Hong Kong after closing last Thursday at its
highest since early June, as gold prices extended last week's