HK Shares Rise On Upbeat China Data

Hong Kong shares rebounded on Tuesday from a sharp fall a day earlier, in line with most other markets in the region.

Trading sentiment improved throughout the day, with the Hang Seng Index closing up 226 points, or 0.9 percent, at 26,567, on turnover of HK$153 billion.

Insurance stocks were among the top-gainers, with Ping An Insurance surging more than 3 percent and China Life Insurance up more than 2.5 percent.

But mainland food delivery giant Meituan dropped slightly, despite a third-quarter earnings report that showed profits jumped by over 300 percent year-on-year.

Markets across the border also closed with strong gains, boosted by upbeat manufacturing survey data pointing towards a continued recovery in the mainland's economy.

The Shanghai Composite Index was up 1.8 percent and the blue-chip CSI-300 index surged over 2 percent.

Other markets in the region also rallied. Tokyo jumped more than 1 percent; Seoul was up more than 1.5 percent, and Australia was also up by 1 percent.

Meanwhile, oil prices fell as traders fret over a lack of news in talks between the Organisation of the Petroleum Exporting Countries (OPEC) and other top producers on extending output cuts.