Chinese shares close mixed at midday Wednesday
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Chinese shares closed mixed in the morning session on Wednesday, as investors digested the consequence from the Purchasing Managers Index (PMI) of China's manufacturing sector in May and looked for clues about the economic outlook.
The benchmark Shanghai Composite Index lost 0.25 percent, or 6.75 points, to end the morning session at 2,736.73.
The Shenzhen Component Index gained 15.95 points, or 0.14 percent, to 11,681.09.
The key economic leading indicator, the PMI of manufacturing sector, fell 0.9 percentage point month-on-month to 52 percent, the lowest in nine months, according to the China Federation of Logistics and Purchasing (CFLP).
It was the second consecutive month of decline for the PMI, a gauge of of the manufacturing expansion, after the government took a series of tightening measures to curb soaring prices and cool the economy.
fell to a nine-month lower in May.
A PMI reading above 50 percent indicates economic expansion. One below 50 percent indicates contraction. China's PMI has been staying above the boom-or-bust line for 27 months in a row.
