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November 2, 2017

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Shanghai shares little changed as PMI stays flat

SHANGHAI stocks were little changed yesterday as Caixin PMI data showed that China’s manufacturing production rose at the slowest rate since June.

The Shanghai Composite Index edged up 0.08 percent to close at 3,395.91 points.

The Caixin China General Manufacturing Purchase Managers’ Index stood at 51 for October, flat from September, according to the survey done by financial information service provider Markit and sponsored by Caixin Media Co Ltd.

Investors turned optimistic after the People’s Bank of China injected 240 billion yuan (US$36.3 billion) into the financial market via reverse repurchase agreements yesterday, said a statement published on its official website.

Shanghai Sunglow Packaging Technology Co Ltd rose 5.22 percent to 39.94 yuan (US$6.03), China Life Insurance Co Ltd climbed 4.71 percent to 32.88 yuan and Zhejiang Hisun Pharmaceutical Co Ltd added 3.37 percent to finish at 15.04 yuan.


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