Manufacturing PMI stays at 18-month high

China's manufacturing sector maintained its highest level of output since March 2012 for the second consecutive month in November, as domestic and foreign demand remained steady.

The National Bureau of Statistics released the November manufacturing Purchasing Managers' Index of 51.4, unchanged from October and besting market expectations of 51.1.

Output rose by 0.1 percentage points to 54.5 in November - the fifth straight month of growth - to reach its highest level since May 2012. It was one of the most important factors in the new PMI reading, according to a report from the National Bureau of Statistics.