A private report released on Monday pointed to a better-than-expected expansion in China’s factory activity. The Caixin/S&P Global manufacturing purchasing managers’ index (PMI) rose to 51.8 in June from 51.7 in the previous month, marking the fastest clip since May 2021 and surpassing analysts’ forecasts of 51.2.
That helped alleviate disappointment over the official PMI data, which stood at 49.5 in June – indicating contraction – unchanged from May.
Before this morning’s gain, the Hang Seng Index had declined 9.8 per cent since a peak on May 20, as traders took profit from the…
