Small, mid-sized manufacturing PMI up

A private survey reflecting factory activity expectations by corporate purchasing managers of small and mid-sized manufacturing firms in China beat expectations to reach 51.6 for February, hitting a six-month high and confirming the country's sound growth momentum, analysts said.

The Caixin/Markit manufacturing Purchasing Managers' Index for February came in at 51.6 thanks to factories rushing to replenish inventories to meet rising new orders. The reading was 51.5 in January.

A reading above 50 indicates expansion, while a reading below that mark signals contraction.