Shanghai stocks climb on positive manufacturing data

Stocks in Shanghai rallied on signs that China’s economy continues to rebound after a slow start to the year, The Wall Street Journal reported. HSBC’s (HBC.NYSE, HSBA.LON, 0005.HKG) initial reading of Chinese manufacturing for September on the bank’s flash Purchasing Managers Index was 51.2, a six-month high, compared to a score of 50.1 in August. A score above 50 shows increasing factory activity whereas below 50 shows a contraction. The Shanghai Composite Index rallied 1.3% on the latetest indication of an economic rebound and is up 5.9% month-to-date.