China HSBC Flash PMI Rises to 49.6 in June

Manufacturing in China showed some signs of improvement, with the HSBC flash PMI for June rising to 49.6, above expectations, but it still remained in contraction territory.

The HSBC PMI data were expected to come in at 49.4, according to a Reuters poll. In May, the final HSBC PMI print stayed in contraction territory for a third month at 49.2. The official PMI came in at 50.2 last month.

China’s Shanghai Composite held on to a 0.2 percent loss, while Hong Kong’s Hang Seng Index stayed in neutral territory. The Australian dollar also had little reaction the data, trading near $0.7718.