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Shanghai shares rise as manufacturing index improves
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SHANGHAI stocks recovered strongly today, as the industrial sector was lifted by the optimism shown in the latest HSBC Flash China Manufacturing Purchasing Managers' Index.
The Shanghai Composite Index rose 0.87 percent to 2,309.72 points.
The HSBC PMI, the earliest available indicator of China's industrial sector, landed at 50.5 this month, up from August’s final reading of 50.2, according to HSBC and research firm Markit. A reading above 50 means expansion. The new figure marked a two-month high that market observers hardly anticipated.
AVIC Heavy Machinery surged the daily limit of 10 percent to 26.62 yuan (US$4.36), while North Electro-Optic gained 5.41 percent to 32.13 yuan.
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