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Video: Mainland market wrap

11-01-2012 13:56 BJT

Chinese mainland stocks climbed at their quickest rate in two weeks, after PMI data signalled growth in the manufacturing industry. The Shanghai Composite Index climbed 1.8 percent to 2,105, reclaiming the 2,100 line after losing it a week ago. China’s October PMI rose to 50.2 from 49.8 a month ago, indicating the first expansion after two months of contraction.

But analysts say a prolonged string of good data is needed, along with more measures to build the economy, before there’ll be any solid gains in the market. Many investors still lack confidence in the economy but good signs are slowly emerging one by one. China’s industrial production, exports, and retail sales accelerated in September, spurring forecasts for a pickup in expansion in the October-December period. That’s after economic growth slowed to 7.4 percent last quarter, a three-year low.

Editor:James |Source: CCTV.com

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