Asian shares, oil advance on strong China factory data

TOKYO (AP) — Asian shares were higher Wednesday after reports on key measures of China manufacturing showed a strong recovery after anti-virus controls were lifted late last year.

Hong Kong’s Hang Seng index jumped 3.3% and Shanghai gained 0.9%.

Purchasing managers’ indexes issued by a business magazine, Caixin, and the official China Federation of Logistics & Purchasing showed gains in production, exports and new orders.

Business activity is recovering after the ruling Communist Party ended stringent anti-virus restrictions in early December. That followed a slump in activity that dragged last year’s economic growth to 3%, its second-lowest level since at least the 1970s.