China manufacturing returns to expansion

China's manufacturing edged back to growth in August, with a reading of 50.1 for HSBC's preliminary purchasing managers index, up from 47.7 in July. "China's manufacturing economy stabilized in August, bringing a three-month period of decline to an end," said Chris Williamson, chief economist at Markit, which compiles the HSBC index. Analysts said the August performance also points to a stronger second half.

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