SHANGHAI — China's manufacturing activity fell to a nine-month low in June, putting pressure on Asian stock markets on Thursday.
The country's purchasing managers' index, or PMI, fell to a nine-month low of 48.3 in June, according to preliminary data released by HSBC on Thursday, which comes about a week before Beijing will announce official PMI numbers. Readings below 50 on the 100-point scale indicate economic contraction. In May, HSBC said China's PMI was 49.2. Official figures indicated last month's PMI was 50.8, up from 50.6 in April.
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