China’s factory activity at lowest reading since April; Asia markets mixed

PUBLISHED: Wed, 30 Nov 2022 09:19:07 GMT
Abigail Ng
FUYANG, CHINA – NOVEMBER 30, 2022 – Workers assemble loudspeakers at a production line in Fuyang City, Anhui Province, China, Nov 30, 2022. China’s purchasing Managers’ Index (PMI) for November was released by the National Bureau of Statistics. In November, the manufacturing PMI fell to 48.0%, below the critical point for two consecutive months, indicating greater downward pressure on the manufacturing sector. (Photo credit should read CFOTO/Future Publishing via Getty Images)

Asia-Pacific shares were mostly higher on Wednesday as the reading for China’s November factory activity fell short of expectations, dropping to the lowest reading since April 2022.

Hong Kong’s Hang Seng index traded 0.22% higher, the Shanghai Composite rose 0.21%, while the Shenzhen Component was 0.38% higher.

Chinese health officials on Tuesday announced measures to boost vaccination among the elderly, an indicator which is seen as important for reopening the economy, while saying it is “closely watching the virus” for developments when asked if the ongoing unrest would lead to a shift in its zero-Covid policy.

This is a developing story…

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