(Yicai Global) July 31 -- China's mainland stock markets spiraled higher this morning,buoyed by the latest data showing steady expansion this month. The benchmarks then fell off fast from their peak to slide into a mixed close at the lunch bell.
The Shanghai Composite Index ended 0.05 percent lower at 3,285.12. The Shenzhen Component Index rose 0.42 percent to 13,522.77. The ChiNext Price Index, which tracks growth enterprises in Shenzhen, climbed 0.9 percent to 2,768.19.
The official Purchasing Manager Index of manufacturing increased 0.2 percentage points from June to 51.1 percent this month to a post-April apex, holding above the 50 redline between expansion and contraction for five straight months as the country rebounds from Covid-19, the National Bureau of Statistics announced today.
Editor: Ben Armour