China’s manufacturing sector hits four month high, boosting stocks
The manufacturing industry in China successfully beat its predicted forecasts in the final months of 2017.
According to the Caxin-Markit manufacturing purchasing mangers’ index, Decembers rating was a rapid increase, rising from 50.8 in the previous month to 51.5.
This makes December the fastest growing rate for China’s sector in four months.
Output, new orders, and exports were some of the fastest-paced sales at the end of last year.
In regards to pricing, inflationary pressures continued at the top, with input costs increasing rapidly.
The Hang Seng China Enterprises index of large-cap Chinese companies rose 2.3% following this discovery, according to the Financial Times.
The CSI 300, an index that monitors large company trading in Shanghai and Shenzhen, also climbed 0.8%.
Following information technology stocks rising by 2.6% and financials increasing by 1.7%, the Hang Sang index subsequently increased by 1.5%.