China markets rise after private survey shows Chinese factory activity grew; HSBC shares up 5%

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China markets rise after private survey shows Chinese factory activity grew; HSBC shares up 5%

Mainland China stocks rose along with most other Asia-Pacific indexes on Monday as a private survey on Chinese factory activity showed slight growth at 50.4.
Over the weekend, China’s official Purchasing Managers’ Index reading for July came in at 49, down from 50.2 in June and lower than the expected 50.4.
On Friday in the U.S., Alibaba was added to a list of companies at risk of delisting under the Holding Foreign Companies Accountable Act. U.S.-listed shares plunged 11% in the regular trading session.

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