China stocks rebounded on Thursday, encouraged by strong data that helped ease concerns about an economic slowdown amid trade tensions and as worries over Italy cooled, while MSCI’s inclusion of Chinese shares in its global indexes from Friday also boosted sentiment.
For the day, the blue-chip CSI300 index rose 2.2 percent to 3,802.38 points, while the Shanghai Composite Index rose 1.8 percent to 3,095.47 points. For the month, CSI300 was up 1.3 percent, while SSEC gained 0.4 percent.
China’s vast manufacturing sector grew at the fastest pace in eight months in May, blowing past expectations and easing concerns about an economic slowdown even as risks from trade tensions with the United States and a crackdown on debt point to a bumpy ride ahead.
On the whole, however, economists were sceptical of the sustainability of industrial sector strength, suggesting the broader economy will face pressure over coming months.
Source : Reuters