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  1. Chinese manufacturing expands in September

    The purchasing managers' index (PMI) for the mainland’s manufacturing sector stood at 50.1 in September, up 0.3 percentage points from the previous month, official data showed on Wednesday. A reading above 50 indicates expansion, while below the 50-point mark reflects contraction. The PMI for large enterprises stood at 50.6, while that for medium and small enterprises came in at 49.7 and 48.9, respectively, according to data released by the National Bureau of Statistics. The production index stood at 51.7, an increase of 1.3 percentage points from last month, suggesting accelerated activity in the manufacturing sector. The new order index was 50.5, down 0.1 percentage point from August. Huo Lihui, a chief statistician with the National Bureau of Statistics, said the manufacturing PMI returned to expansion in September. Huo said among the 21 industries surveyed, 12 recorded a PMI above the threshold – an increase of four from the previous month, showing improvements in the manufacturing sector. Official data also showed the PMI for the mainland’s non-manufacturing sector came in at 50.2, up 1.2 percentage points from last month. The composite PMI output index was 50.7, indicating expansion in production and business activities compared to the previous month. (Additional reporting from Xinhua) Edited by Tony Sabine

  2. Mainland shares open higher while HK stocks slip

    Mainland stocks made modest gains on Wednesday, finding some support from Beijing's latest package of targeted credit-easing measures which were announced late on Tuesday. The benchmark Shanghai Composite Index was up 0.23 percent to open at 3,839 points while the Shenzhen Component Index opened 0.44 percent higher. Among the measures announced, the People's Bank of China said it would cut the interest rate on its one-year pledged supplementary lending (PSL) facility by 25 basis points to 1.5 percent from 1.75 percent to fund investment in water, power grid, computing, telecommunications and other infrastructure projects. In Hong Kong, the Hang Seng Index fell 129 points, or 0.53 percent, to open at 24,393. (Reuters/Xinhua) Edited by Tony Sabine