The Shanghai Composite Index, China’s stock markets, closed lower today. In line with the direction of Asian stock markets that have mostly declined. After U.S. stock markets fell sharply on Thursday (June 30) and pressure from weaker sentiment among Japanese manufacturers in the second quarter.
The Shanghai Composite Index closed at 3,387.64, down 10.98, or -0.32%.
For China’s economic data released today. The survey, which Markit conducted with Caixin, said: China’s June manufacturing purchasing managers’ index (PMI) grew the fastest in 13 months, helped by a strong recovery in production. After China announced the lifting of lockdown measures. This allows industrial plants to speed up production to cope with increasing demand.
The June manufacturing PMI was 51.7, up from 48.1 in May and better than analysts’ expectations of 50.1. China’s production is expanding.