Chinese Stocks Close Higher as PMI Data Show Green Shoots for Economy
By
Sherry Qin, Dow Jones Newswires
Chinese shares ended higher amid signs of further economic green shoots following authorities’ late September’s policy push.
The Caixin services purchasing managers index rose to 52.0 in October from 50.3 in September.
The Shanghai Composite Index rose 2.3% to 3386.99, the highest closing level in almost a month. The Shenzhen Composite Index put up 3.2% and the ChiNext Price Index surged 4.75%. Software and financial stocks led gains. Beijing Kingsoft Office Software advanced 9.3% and iFlytek was 3.0% higher. Citic Securities added 4.85% and East Money Information surged 10%.
