Shanghai Composite surges 1.9% on stimulus rumor

Mainland China share market closed higher in volatile trade on Thursday, 21 May 2015, on speculation of more policy support from Beijing after weaker-than-expected flash Chinese manufacturing data. The Shanghai Composite Index advanced 83.13 points, or 1.87%, to finish at 4529.42 points. The CSI300 index added 86.06 points, or 1.81%, to 4840.98.

The HSBC preliminary manufacturing Purchasing Managers Index rose slightly to 49.1 for May, from a final reading of 48.9 in April, according to the HSBC Holdings PLC report released on Thursday. The level remains below the 50 threshold that separates expansion from contraction.

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