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December 2, 2016

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PMI rebound just the tonic for Shanghai shares

SHANGHAI stocks rose yesterday as market sentiment was lifted by a rebound in China’s manufacturing activity.

The Shanghai Composite Index gained 0.72 percent to 3,273.31 points. China’s official manufacturing Purchasing Manager’s Index rose to 51.7, a two-year high, last month from October’s 51.2 reading, the National Bureau of Statistics said. China’s PMI has rebounded for four consecutive months, “injecting confidence among investors,” Industrial Securities said.


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