China stocks end nearly flat on disappointing PMI data

Hong Kong stocks rebounded after hitting a one-year low earlier. ** China's blue-chip CSI300 Index edged up 0.2%, and the Shanghai Composite Index inched up 0.3% by market close.

China stocks closed nearly flat on Thursday after downbeat manufacturing data, with investors calling for more easing measures. Hong Kong stocks rebounded after hitting a one-year low earlier.

** China's blue-chip CSI300 Index edged up 0.2%, and the Shanghai Composite Index inched up 0.3% by market close. Hong Kong benchmark Hang Seng Index also edged up 0.3%, after touching its lowest level since November last year. ** China's manufacturing activity contracted for a second straight month in November and at a quicker pace, an official factory survey showed on Thursday.

** The Purchasing Managers' Index (PMI) data disappointed investors who are awaiting a rebound, boosting the case for near-term fiscal and monetary easing, analysts at Citi said. ** The ongoing economic malaise is reflected in the local stock market, with the key CSI300 Index unable to stage a sustained recovery, said Alvin Tan, head of Asia FX strategy at RBC Capital Markets.

** The CSI300 Index has lost 9.5% so far this year. ** Investor sentiment in Chinese financial assets remains highly negative, Tan said.

** China President Xi Jinping visited Shanghai and learned about the city's efforts to strengthen its competitiveness as an international financial centre, state media reported on Wednesday. ** Tourism and health care stocks were up 1.3% and 1.2%, respectively.

** Tech giants traded in Hong Kong were down 0.3%. ** China Evergrande Group was up 11.6%.