30.06.202602:05:38UTC+00China Stocks Set for Mixed Monthly Finish

The Shanghai Composite Index slipped 0.5% to 4,053 on Tuesday, while the Shenzhen Component Index gained 0.8% to 15,943, producing a mixed market performance despite stronger-than-expected PMI data.

China’s Composite PMI inched up to a six-month high of 50.6 in June from 50.5 in May. The manufacturing PMI rose to 50.3 from 50.0, surpassing forecasts of 50.1, supported by solid demand for high-tech exports that helped offset trade disruptions stemming from tensions in the Middle East. Meanwhile, the non-manufacturing PMI edged up to 50.2 from 50.1, defying expectations of a contraction to 49.9 and pointing to continued stabilization in the services and construction sectors.

On the corporate front, China Life Insurance (-1.0%), Zijin Mining Group (-2.9%), and GigaDevice Semiconductor (-3.6%) were among the notable laggards, while Eoptolink Technology (1.5%), NAURA Technology (3.5%), and Huagong Tech (1.1%) led the advance.

For the month, the Shanghai Composite is on track for a second consecutive decline, whereas the Shenzhen Component is poised for a third straight monthly gain.