BEIJING: China stocks were mixed on Thursday as investors eyed weak financial sector earnings and subdued expectations for a rebound in manufacturing.
The CSI300 index was unchanged at 3,524.65 points at the end of the morning session, while the Shanghai Composite Index gained 0.1 percent, to 3,379.38 points.
China CSI300 stock index futures for November at 3,418 was flat, 106.65 points below the current value of the underlying index.
Stocks rose modestly at the open but gave up some gains later in the morning as traders eyed ongoing weakness in manufacturing and disappointing third quarter results from the financial sector.
A Reuters poll found that economists expect China’s official manufacturing purchasing managers’ index (PMI) to edge up to 50 for October, better than September’s 49.8 reading but still indicative of tough conditions for the nation’s factories.
Readings above 50 for the PMI, an aggregrate measure taking account of factors such as new orders and employment, indicate expansion while readings below 50 indicate contraction.
