China stock advanced amid positive PMI data
Chinese equities rose amid positive PMI data of November released recently.
The Caixin China Composite Purchasing Managers’ Index (PMI), which covers manufacturing and services, jumped by 1.2 points to 53.2 in November, signaling a solid increase in total business activity across China last month.
Market sentiment also uplifted. At the close of market hours, the benchmark Shanghai Composite Index climbed by 0.42 percent to 2,911.58 points, the Shenzhen Component Index edged up by 0.81 percent to stand at 9,878.62 points, and the blue chip CSI300 index ended the day up 0.58 percent at 3,902.03 points.
Turnover on the two major bourses totaled 409.8 billion yuan (US$58.07billion), compared with 423.8 billion yuan in the previous session.
Gains were led by cultural and media companies. Department stores and liquor makers also post positive performance.
Automobile, coal mining and chemical industry had weak performance.
At the STAR Market, 27 companies gained while 33 companies lost. Advanced Micro-Fabrication Equipment Inc. China (AMEC) — a micro-fabrication equipment company serving the semiconductor industry and adjacent high-tech sectors, was the biggest percentage gainer.