China’s market soars as factory activity jumps in June

• The Shenzhen Component jumped 1.573% to close at 12,896.2

Chinese market surged on Thursday as the country’s factory activity rose in June as authorities lifted a strict lockdown in Shanghai.

The Shenzhen Component jumped 1.573% to close at 12,896.2, and the Shanghai Composite soared 1.10% to 3,398.62.

China’s official manufacturing purchasing managers’ index (PMI) rose to 50.2 in June, indicative of growth, from 49.6 in May.