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Asian shares mostly up led by China; Shanghai Composite soars 1.5%

Asian shares mostly up led by China; Shanghai Composite soars 1.5%

BEIJING: China shares constantly surged on Wednesday, leading gains across Asia.
The Shanghai Composite Index was up 1.5% at 2804.81 as the official non-manufacturing purchasing managers index edged up to 53.9 in November after dipping to a nine-month low of 53.8 in October. A figure over 50 indicates expansion.
The Shanghai benchmark has had a nearly uninterrupted string of daily gains of 1% or more since Nov. 21, when China’s central bank made a surprise rate cut.
China investors were buying up blue-chip stocks, from mining and energy to financials. Among the strongest gainers, Anhui Conch Cement Co Ltd (OTC:AHCHY). was up 3.4%, China Pacific Insurance (HK:2601). was up 4.1% and China Merchants Bank Co Ltd (OTC:CIHKY) was up 8.4%.