China's April factory activity grows at slower pace

China's manufacturing activity expanded at a slower pace in April, an official factory survey showed on Tuesday, suggesting the sprawling sector started to lose some momentum at the start of the second quarter.

The official purchasing managers' index (PMI) dropped to 50.4 in April from 50.8 in March, above the 50-mark separating growth from contraction, and beat a median forecast of 50.3 slightly in a Reuters poll.