Chinese stocks plunged Monday, spurring a trading halt for the rest of the session and leading stock markets in Asia Pacific lower after feeble manufacturing surveys revived concerns over the mainland's economic slowdown.
China's official manufacturing Purchasing Managers' Index (PMI), a measure of factory activity, stood at 49.7 in December. The Caixin December manufacturing PMI was down at 48.2, compared with 48.6 in November. The Caixin PMI is a closely-watched gauge of nationwide manufacturing activity, which focuses on smaller and medium-sized companies, filling a niche that isn't covered by the official data.
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