China stocks edge higher as manufacturing activity returns to growth

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SHANGHAI: China stocks ended slightly higher on Thursday, led by property shares, as the country's manufacturing activities returned to growth in October, while traders await a key leadership meeting for details on more potential stimulus. Hong Kong shares closed down.

China's manufacturing activity in October expanded for the first time in six months, an official factory survey showed. Investor sentiment towards China's equity market has cooled since mid-October, following a sharp rally in late September. Market focus is now on next week's National People's Congress Standing Committee meeting and the U.S. election.

In the NPCSC next week, the sustainability and transparency of fiscal policy will be more important to sustain the upward equity market trend, the analysts from UBS said, adding that investors think more meaningful fiscal policy should be released at the Central Economic Work Conference in December.

 

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