Shanghai shares edge up

The official Purchasing Managers' Index falls to 51.6 in October from September's 52.4, but the index is still in positive territory as it is over 50

SHANGHAI shares edged up today after falling on Monday after data showed official manufacturing activity grew.

The Shanghai Composite Index added 0.09 percent to end at 3,393.34 points.

The official Purchasing Managers’ Index, which measures vitality in the manufacturing sector, fell to 51.6 in October from September’s 52.4, the National Bureau of Statistics said today. But the index was still in positive territory as it was over 50, the dividing line between expansion and contraction.

Free trade zone related shares rose, with both Shanghai Material Trading Co and Orient International Enterprise surging by the daily limit of 10 percent. Shanghai Jinjiang International Industrial Investment Co jumped 7.41 percent to 17.82 yuan and Shanghai International Port Group advanced 7.46 percent.

Metal producers also gained. Shandong Gold Mining Co added 0.79 percent and Jiangxi Copper Co rose 0.63 percent while Yunnan Copper Co edged up 0.22 percent to 13.81 yuan.


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