MNI BRIEF: Caixin Jun Manufacturing PMI Back To Expansion Zone

China's Caixin manufacturing PMI came in at 50.4 in June, up from May's 48.3, rising back into the expansionary zone above the 50 mark as the China-U.S. tariff war de-escalated, the financial publisher said on Tuesday.

The new order sub-index rebounded to slightly above the breakeven 50, among which the new export order sub-index ended the previous two consecutive months of decline and rose significantly in the contraction range. The production sub-index also returned to above 50 and hit a nearly seven-month high.

Caixin's PMI mainly tracks SME manufacturers. The official PMI released on Monday, which typically covers large state-owned companies, registered 49.7 in June, up from May's 49.5 reading.