Activity in China's vast manufacturing sector continued to pick up steam in July, two sets of data showed on Friday, as Beijing's drip-feed of stimulus filtered through the economy.
The official Purchasing Managers' Index (PMI) rose to 51.7 in July, its highest reading in 27 months, better than a Reuters forecast for 51.4 and after the 51.0 reading in June.
Meanwhile, the HSBC final PMI for July released shortly after also came in at 51.7, slightly lower than the 52.0 flash reading but still above the 50-point level separates growth in activity from contraction.
The data helped to dispel some of the negativity in markets following the losses on Wall Street: Asian stocks trimmed their losses while the Australian dollar reversed losses, inching up 0.1 percent against the greenback.
The official survey showed a broad-based recovery in manufacturing activity in July, with 10 out of the 12 sub-indicies pointing to improvement from the previous month.