China stocks end mixed as PMI data points to improving activity

The Shanghai Composite closed flat at around 3,942, while the Shenzhen Component edged up 0.1% to 13,625.1 on Thursday. The gains came after two sessions of losses, as fresh PMI data showed signs of improving economic momentum.

A private survey showed Chinas Composite PMI rising to 52.1 in August from 50.8. Services PMI improved to 51.4 from 50.4, while manufacturing PMI rose to 51.5 from 50.9. Official data also showed the Composite PMI edging up to 49.5 from 49.3, with manufacturing improving to 49.8 from 49.2 and non-manufacturing steady at 49.

However, concerns over weak domestic demand continued to weigh on sentiment. Foxconn Industrial Internet, Ping An Insurance and Weichai Power gained, while major banks including Industrial and Commercial Bank of China, Agricultural Bank of China and China Construction Bank declined.

 

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