{"id":38465,"date":"2022-06-06T04:48:06","date_gmt":"2022-06-06T04:48:06","guid":{"rendered":"https:\/\/harchi90.com\/private-survey-on-chinese-services-sector-activity-in-may-released\/"},"modified":"2022-06-06T04:48:06","modified_gmt":"2022-06-06T04:48:06","slug":"private-survey-on-chinese-services-sector-activity-in-may-released","status":"publish","type":"post","link":"https:\/\/harchi90.com\/private-survey-on-chinese-services-sector-activity-in-may-released\/","title":{"rendered":"Private survey on Chinese services sector activity in May released"},"content":{"rendered":"
SINGAPORE – Shares in Asia-Pacific were mixed in Monday trade, as a private survey showed another contraction in China’s service sector activity for May.<\/p>\n
Chinese stocks led gains among the region’s major markets, with the Shanghai Composite up 1.05% while the Shenzhen Component surged 2.521%. Hong Kong’s Hang Seng index advanced 1.09%.<\/p>\n
China’s Caixin Services Purchasing Managers’ Index released Monday came in at 41.4, better than April’s reading of 36.2 but still in contraction territory.<\/p>\n
The release comes on the back of last week’s official non-manufacturing PMI print of 47.8 for May, an improvement over April’s reading of 41.9 but still below the 50 mark that separates expansion from contraction.<\/p>\n
PMI readings are sequential and represent month-on-month expansion or contraction.<\/p>\n<\/div>\n