Investing.com - Manufacturing activity in China expanded at the fastest pace in seven months in June, easing concerns over the outlook for growth in the world’s second largest economy, data showed on Monday.
China’s HSBC Flash Purchasing Managers Index, the earliest indicator of the country's industrial activity, rose to 50.8 in June from a final reading of 49.4 in May. Analysts had expected the index to rise to 49.7 this month.
Following the release of the data, Hong Kong's Hang Seng tumbled 1.4%, China’s Shanghai Composite shed 0.05%, Australia’s S&P/ASX 200 closed 0.62% higher, while Japan’s Nikkei 225 ended up 0.13%.