China stocks hit 7-yr high, weak factory activity fans stimulus optimism

April 23, 2015 7:14 AM

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SHANGHAI, April 23 (Reuters) - China stocks rose to fresh seven-year highs on Thursday, with weaker-than-expected factory activity data reinforcing expectations of fresh government stimulus.

The flash HSBC/Markit Purchasing Managers' Index (PMI) showed that China's factory activity in April contracted at its fastest pace in a year, suggesting that economic conditions are still deteriorating.

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