Economics
China Manufacturing Gauge Rises in Sign of Stabilization
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A Chinese manufacturing gauge rose to a five-month high in May, sending Asian stocks higher on speculation the economy is stabilizing after government moves to counter a slowdown.
A preliminary purchasing managers’ index from HSBC Holdings Plc and Markit Economics was at 49.7, exceeding the 48.3 median estimate of analysts surveyed by Bloomberg News and a final reading of 48.1 in April. The number remained below the expansion-contraction line of 50.