1st LD-Writethru: Upbeat PMI data lift Chinese stocks

Chinese shares climbed on Wednesday after two separate gauges showed manufacturing activity expansion in February.

The benchmark Shanghai Composite Index edged up 0.16 percent to end at 3,246.93 points. The Shenzhen Component Index closed 0.26 percent higher at 10,418.62 points.

Combined turnover expanded to 570.22 billion yuan (about 82.64 billion U.S. dollars) from 484.51 billion yuan the previous trading day.

Official data showed Wednesday that China's manufacturing purchasing managers' index (PMI) rose faster than expected in February to 51.6 from 51.3 in January. The Caixin China General Manufacturing PMI rose to 51.7 last month from 51.0 in January.

The data indicated conditions in the manufacturing sector continue to improve moderately, and at a slightly more rapid pace, said Tom Orlik, chief Asia Economist at Bloomberg.

The readings lifted most sectors, led by resources, but gains were pared in the afternoon as investors took profits.

Shares of titanium dioxide producers rose, and Anhui Annada Titanium Industry Co., Ltd. surged by the daily limit of 10 percent to 20.06 yuan.

Shares of express delivery company S. F. Holding Co., Ltd. surged 4.79 percent to 70 yuan in its seventh trading day of rising prices. However, shares of Sto Express Co., Ltd., another leading express delivery firm, fell 6.1 percent to 29.85 yuan. Endi