China stocks seesaw as investors weigh domestic recovery, overseas rates
SHANGHAI, July 1 (Reuters) -China stocks seesawed on Monday, after a private sector survey showed China's manufacturing activity grew at the fastest pace in more than three years, in contrast with a decline from an earlier official report.
The broader Asian stocks were also subdued, as traders pondered over the U.S rates outlook.
The Caixin/S&P Global manufacturing PMI rose to 51.8 in June from 51.7 in the previous month, marking the fastest clip since May 2021 and surpassing analysts' forecasts of 51.2, indicating the health of the sector remained robust.
However, the figure contrasted with an official PMI released on Sunday that showed a decline in manufacturing activity, keeping alive calls for further stimulus as the economy struggles to get back on its feet.
Prices of new homes in China climbed at their slowest pace in five months in June, a private survey showed on Monday, with a recent major government package of support measures for the country's ailing property sector having only a limited impact so far.
** At the midday break, the Shanghai Composite index .SSEC was up 0.31% at 2,976.64.
** China's blue-chip CSI300 index .CSI300 was down 0.19%, with its financial sector sub-index .CSI300FS rising 0.52%, the consumer staples sector .CSI000912 down 1.26%, the real estate index .CSI000952 up 6.22% and the healthcare sub-index .CSI300HC down 0.84%.
** Chinese H-shares listed in Hong Kong .HSCE rose 0.12% to 6,331.86, while the Hang Seng Index .HSI was up 0.01% at 17,718.61.
** The smaller Shenzhen index .SZSC was down 0.41%, the start-up board ChiNext Composite index .CNT was weaker by 1.57% and Shanghai's tech-focused STAR50 index .STAR50 was down 1.53%.
** Around the region, MSCI's Asia ex-Japan stock index .MIAPJ0000PUS was firmer by 0.01% while Japan's Nikkei index .N225 was up 0.02%.
Reporting by Shanghai Newsroom; Editing by Rashmi Aich
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