China's HSBC manufacturing PMI moved into expansion territory for the first time in 13 months in November, rising to 50.5 from 49.5 in October. The official PMI increased to 50.6 from 50.2, marking a seven-month high for the index. "We expect GDP growth to rebound modestly to around 8% in Q4 as the easing measures continue to filter through," says HSBC. Despite the improved numbers, Chinese and Hong Kong shares closed lower.
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