Echoes of Buffett's railroad deal are felt in China as railway stocks surge

In Asia Wednesday, shares climbed with Hong Kong's Hang Seng Index advancing 1.8 percent to 21,615. Japan's Nikkei Index closed at 9,844 -- up 0.4 percent and China's Shanghai Composite ended the day at 3,129 -- up 0.5 percent.

In China, investors must have been keeping a close eye on Warren Buffett's planned purchase Tuesday of railroad company Burlington Northern Santa Fe Corp for $34 billion. Not wanting to miss out on the next big thing, investors plowed money into Daqin Railway Co., which surged 4.3 percent in Shanghai today. The company operates China's immense coal transportation network. Guangshen Railway Co. (GSH) also benefited from the Buffett effect, advancing 2.5 percent, and Railroad builder China Railway Construction Corp Ltd. (GWYCF) gained 1.5 percent.