China’s major e-commerce platforms including JD and Alibaba’s Tmall kicked off this year’s 618 mid-year shopping festival on Tuesday with record sales, in another testament to the massive buying power of Chinese consumers in a virus-free environment and the resilience of the Chinese economy.
The Mainland China share market finished higher for second consecutive session on Tuesday, 01 June 2021, after a private report showed Chinese manufacturing expanded in May.
The Caixin China PMI Manufacturing Index rose to 52 in May from 51.9 for the previous month, signifying the nation s industrial companies were in expansion mode. The report, which surveys smaller enterprises, contrasted with a slight drop in activity in an official manufacturing gauge published by the National Bureau of Statistics a day earlier.
At closing bell, the benchmark Shanghai Composite Index advanced 0.26%, or 9.24 points, to 3,624.71. The Shenzhen Composite Index, which tracks stocks on China s second exchange, added 0.41%, or 9.82 points, to 2,429.57. The blue-chip CSI300 index added 0.2%, or 10.11 points, to 5,341.68.
Asia Manufacturing Powers Ahead as Virus Weighs on Outlook
Jun 01 2021, 2:14 PM
June 01 2021, 11:45 AM
June 01 2021, 2:14 PM
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Asiaâs manufacturing activity continued to advance in May, though at a slightly slower pace, despite flare-ups of Covid-19 around the region that could force some plants to close and weigh on sentiment.
Taiwanâs IHS Markit May manufacturing purchasing managersâ index declined to 62 from Aprilâs 62.4, remaining well above the 50 level that signals expansion. New orders rose.