A survey of Chinese manufacturers, t he Caixin manufacturing purchasing manager's index, showed economic activity accelerating further in September as businesses recovered from the downturn earlier this year due to the pandemic.
The Caixin manufacturing PMI slipped to 53.0 from 53.1 in August, on a 100-point scale. China's official manufacturing PMI rose to 51.5 from 51.0, its highest level in two years. “The economic recovery has picked up pace with supply and both domestic as well as overseas demand improving," Stephen Innes of AxiCorp said in a commentary.
The Hang Seng in Hong Kong jumped 1.4% to 23,593.51, but fell back from a 2.1% gain earlier in the morning. The Shanghai Composite index surged 0.6% to 3,243.79.