China's manufacturing activity grew at its fastest pace in 18 months in October, official data on Friday showed, a positive sign from the world's second biggest economy after a recent run of disappointing numbers.
The official Purchasing Managers' Index (PMI) rose to 51.4 in October from 51.1 in September and was above analyst expectations for a reading of 51.2. It remained comfortably above the 50-mark that divides expansion from contraction.
(Read more: China HSBC flash PMI hits seven-month high)
HSBC meanwhile said that the final reading of its China October PMI was 50.9, unchanged from a flash estimate released last week. On this measure, the Chinese manufacturing sector grew at its fastest pace in seven months, lifted by new orders.
"The broad message here is that China's economy is still holding up. It's not exactly red hot but it's good enough for the time being," said Frederic Neumann, managing director and co-head of Asian economics research at HSBC.