China’s Official PMI at 51 for June

China’s manufacturing activity rebounded further in June, government data showed on Tuesday.  The official Purchasing Managers’ Index (PMI) came in at 51, in line with a forecast from Reuters and above the 50.8 reading in May.

Separately, HSBC said the final reading of its China PMI stood at 50.7 in June compared with a flash estimate of 50.8.  “The official PMI is certainly very positive, and also in terms of China’s growth target being achieved,” Greg Matwejev, director, currency hedge fund sales and trading, told CNBC.

China’s benchmark Shanghai Composite stock index opened 0.14 percent higher, while Australian shares traded 0.2 percent higher following the PMI data.

CNBC

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