July 01, 2024 at 12:35 am EDT
SHANGHAI (Reuters) - China stocks seesawed on Monday, after a private sector survey showed China's manufacturing activity grew at the fastest pace in more than three years, in contrast with a decline from an earlier official report.
The broader Asian stocks were also subdued, as traders pondered over the U.S rates outlook.
The Caixin/S&P Global manufacturing PMI rose to 51.8 in June from 51.7 in the previous month, marking the fastest clip since May 2021 and surpassing analysts' forecasts of 51.2, indicating the health of the sector remained robust.
However, the figure contrasted with an official PMI released on Sunday that showed a decline in manufacturing activity, keeping alive calls for further stimulus as the economy struggles to get back on its feet.
Prices of new homes in China climbed at their slowest pace in five months in June, a private survey showed on Monday, with a recent major government package of support measures for the country's ailing property sector having only a limited impact so far.
** At the midday break, the Shanghai Composite index was up 0.31% at 2,976.64.
** China's blue-chip CSI300 index was down 0.19%, with its financial sector sub-index rising 0.52%, the consumer staples sector down 1.26%, the real estate index up 6.22% and the healthcare sub-index down 0.84%.
** Chinese H-shares listed in Hong Kong rose 0.12% to 6,331.86, while the Hang Seng Index was up 0.01% at 17,718.61.
** The smaller Shenzhen index was down 0.41%, the start-up board ChiNext Composite index was weaker by 1.57% and Shanghai's tech-focused

STAR

50 index was down 1.53%.
** Around the region, MSCI 's Asia ex-Japan stock index was firmer by 0.01% while Japan's Nikkei index was up 0.02%.
(Reporting by Shanghai Newsroom; Editing by Rashmi Aich)

Sumber : Reuters