Shanghai Composite up 0.92% at 2,994 points (Il Sole 24 Ore Radiocor) - Shanghai , 01 Jul - Chinese stocks closed higher, rebounding from Friday's losses amid muted Asian markets.

Caution prevailed as investors assessed mixed economic data out of the country.

The Shanghai Composite closed up 0.92% at 2,994 points, while the Shenzhen CSI 300 closed up 0.48% at 3,478 points.

China released its official PMI figures on the weekend, with its manufacturing PMI coming in at 49.5, unchanged from May and marking its second straight month of declines.

A private survey however showed today that China's Caixin/S&P Global manufacturing purchasing managers' index rose to 51.8 in June from 51.7 in May, exceeding market forecasts of 51.2.

The reading indicated an eighth successive monthly improvement in the health of the sector. Furthermore, the rate of growth was the fastest since May 2021.

Data showed last week that growth in China's industrial profits narrowed in May, rekindling concerns that economic growth in the country was slowing.

The figures come after data released in recent weeks pointed to an uneven economic recovery.

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(RADIOCOR) 01-07-24 11:42:09 (0250) 5 NNNN