China's June PMI lacklustre, more stimulus expected

Beijing

CHINA'S manufacturing sector showed some sign of stabilising in June, but analysts still expect more easing in the coming months, as the world's second largest economy faces an ongoing slump in its property market and stagnant domestic demand.

China's official manufacturing purchasing managers' index (PMI) stood at 50.2 in June, unchanged from the previous month and just above the 50-mark that separates growth from contraction.

The final HSBC PMI came in at 49.4 last month, below a preliminary reading of 49.6 and slightly above the 49.2 recorded in May. However, the contraction was slower than in previous months, offering …