April 30, 2025 at 03:26 am EDT
(MT Newswires) -- Chinese shares saw mixed trade on Wednesday as China's manufacturing sector fell into contraction as trade tensions with the US persisted.
The Shanghai Composite Index, the main gauge of Chinese stocks, slipped 0.2% to 3,279.03. The Shenzhen Component Index rose 0.5% to 9,899.82.
China's manufacturing sector entered contraction territory in April as the official Purchasing Managers' Index went down 1.5 points to 49.0. This was lower than the Reuters PMI forecast of 49.8 and below the 50-point threshold that separates growth from contraction in activity.
The sub-indices for production and new orders respectively dipped to 49.8 and 49.2, signaling softer demand. The employment and inventories sub-indices respectively dropped to 47.9 and 47.0, which pointed to lower hiring activity and reduced stockpiles.
Meanwhile, the Caixin/S&P Global headline seasonally adjusted manufacturing PMI declined to 50.4 in April from the four-month high of 51.2 in March.
New export orders fell for the first time in three months due to US tariffs, according to a research note from S&P Global. Production and hiring slowed as firms shed jobs and ran down inventories.
In company news, Hua Xia Bank'sattributable profit fell 14% year over year to 5.06 billion yuan in the first quarter from 5.89 billion yuan. Shares of the bank closed 9% lower Wednesday.

Sumber : MT Newswires