China factory activity expands

China's factory activity expanded for a second consecutive month in April, according to official surveys, despite the economic shocks of the Iran war.

The manufacturing purchasing managers' index remained above the 50-point threshold, reaching 50.3.

Analysts noted that sectors buoyed by higher prices for oil, metals, and chips are thriving.

However, the services sector showed signs of slowing, dipping to 49.4 as domestic demand remains under pressure.