China's stocks drop as manufacturing activity contracts due to weak demand and trade tensions with US

From Google: 2024-08-01 20:55:14

China’s stocks drop as manufacturing activity contracts, with the Shanghai Composite Index falling by 0.9% to 3,169.08 points. The Caixin/Markit manufacturing Purchasing Managers’ Index (PMI) for July was 49.9, below the 50-point mark indicating expansion. This decline is attributed to weak domestic demand and ongoing trade tensions with the US.



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