China’s market soars as factory activity jumps in June
The Shenzhen Component jumped 1.573% to close at 12,896.2
• 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.
Though Chinese markets soared on Thursday, other Asia-Pacific indexes fell.
The Hang Seng index in Hong Kong declined 0.57%, while the Hang Seng Tech index fell 1.46%.
In Japan, the Nikkei 225 dropped 1.54% to close at 26,393.04 while the Topix slipped 1.2% to 1,870.82.
In Australia, the S&P/ASX 200 declined 1.97% to 6,568.1.
Picture Credits: Getty Images
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