At closing bell, the benchmark Hang Seng Index inclined 1.91%, or 562.53 points, to 30,038.72. The Hang Seng China Enterprises Index added 1.79%, or 207.49 points, to 11,810.25.
Consumer prices in China were up 1% month-on-month in January, following the 0.7% increase in December, the National Bureau of Statistics said. On a yearly basis, consumer prices fell 0.3%, following the 0.2% gain in the previous month. The bureau also said that producer prices rose 0.3% year-on-year in January after sinking 0.4% a month earlier.
China's new bank loans surged to new highs in January, boosted by seasonal demand, while broad credit growth slowed, separate data showed. , the People's Bank of China (PBOC) data showed that China's new yuan-denominated loans totaled 3.58 trillion yuan (about $556.3 billion) in January, an increase of 225.2 billion yuan year on year, hitting a record high.
Hong Kong Exchanges and Clearing (HKEX) rose 3.8% to HK$534. The bourse operator announced on Tuesday that it had chosen JPMorgan Chase & Co banker Nicolas Aguzin to replace Charles Li Xiaojia as its chief executive.
Banking stocks gained after the People's Bank of China monetary data released on Tuesday showed a surge in new credit last month suggesting conditions remained supportive of growth beyond the Lunar New Year. Hang Seng Bank added 2.8% to HK$145.30. China Construction Bank rose 2.5% to HK$6.14, while Bank of Communications gained 2.6% to HK$4.31. HSBC increased 2.2% to HK$42.60.
Kerry Logistics Network rose 5.5% to HK$24.75 after trading resumed on Wednesday. Chinese courier SF Holding announced plans to acquire a 51.8% stake in Kerry Logistics for HK$18.80 per share.
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