China Sees Mixed Trade as Manufacturing Sector Growth Slows; Century Huatong Shares Fall 9%
Chinese shares were mixed on Thursday amid slower growth in China's manufacturing sector and ahead of the Labor Day holiday.The Shanghai Composite Index, the main gauge of Chinese stocks, ticked up 0.1% to 4,112.16. The Shenzhen Component Index declined 0.1% to 15,107.55.China's manufacturing purchasing managers' index was down 0.1 of a percentage point month on month to 50.3% in April.The production and new orders sub-indices remained above the critical point at 51.5% and 50.6%, respectively. The remaining sub-indices for raw material, employment and supplier delivery time were below the critical points at 49.3%, 48.8% and 49.5%, respectively.Meanwhile, the non-manufacturing business activity index was 49.4%, down 0.7 of a percentage point from March. The composite PMI output index was 50.1%, down 0.4 of a percentage point.In company news, Zhejiang Century Huatong Group (SHE:002602) posted first-quarter attributable net profit of 2.03 billion yuan, up 35% from 1.35 billion yuan the previous year. Shares of the game developer were down 9% Thursday.