Business / Markets

China stocks up on improved manufacturing data

(Xinhua) Updated: 2012-07-24 16:25

BEIJING -- China's stocks ended higher Tuesday after data from the HSBC showed China's manufacturing activity was gaining traction in July.

The benchmark Shanghai Composite Index went up 0.24 percent, or 5.19 points, to close at 2,146.59, while the Shenzhen Component Index gained 0.84 percent, or 76.75 points, to close at 9,262.77.

Preliminary figures from HSBC's purchasing managers' index, which gauges the manufacturing sector, rose to 49.5 in July from 48.2 in June, said the banking giant.

In addition, the index measuring manufacturing output also rebounded, reaching a nine-month high of 51.2 percent in July, compared with 49.3 in June, the bank said.

A reading above 50 suggests expansion, while a reading below 50 indicates contraction.

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