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Chinese stock market hits losses as companies like Hunan TV & Broadcast and Shanghai CDXJ Digital see steep declines. Here’s a snapshot of top stock losses from today's session.
S&P Global’s report indicates that the manufacturing Purchasing Managers' Index (PMI) remained below the neutral mark of 50, suggesting that the sector is contracting. Specifically, the index recorded a reading of 48.5, a slight decline from the previous quarter. This decline reflects persistent issues such as weakened consumer demand, both domestically and internationally, and disruptions in supply chains that have hampered production capabilities.
The electronics sector was the highlight, registering a 14.5% jump in output—the highest since 2018.
China's industrial output surged in May, with new energy vehicle (NEV) production up by 33.6% and integrated circuits (IC) rising by 17.3% year-on-year.
Statistics Korea reported that South Korean manufacturers faced a third consecutive quarterly decline in domestic supply in Q1 2024, with the manufacturing domestic supply index dropping to 102.5, reflecting a 2.4 per cent decrease year-on-year.