China Stock Market: Shanghai Composite closed up 20.59 points, on PMI response.

The Shanghai Composite Index, China’s stock markets closed higher today. After China released the Purchasing Managers Index (PMI), the manufacturing and service sectors continued to expand well in December.

The Shanghai Composite Index closed at 3,639.78, up 20.59, or +0.57%.

China’s National Bureau of Statistics (NBS) reported today that The Purchasing Managers’ Index (PMI) for December rose to 50.3 from 50.1 in November and better than analysts’ expectations for a decline of 50. Such indicates that China’s manufacturing sector remains strong. Even in the face of the COVID-19 epidemic

China’s services PMI in December stood at 52.7, up from 52.3 in November.

China’s manufacturing and services PMI continues to expand. Even though the economy has been affected by China’s measures to control the spread of COVID-19 Recently, China has enforced strict measures to limit both inbound and outbound travel in Xi’an. in line with the Chinese government’s guidelines to contain the epidemic immediately.



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