China manufacturing gauge at 12-month low: HSBC

An index of China's manufacturing activity fell to a 12-month low in April, HSBC said Thursday, indicating further weakness as growth sputters in the world's second-largest economy. The reading was also below the median estimate of 49.6 in a Bloomberg News survey. The index, compiled by information services provider Markit, tracks activity in China's factories and workshops and is regarded as a barometer of the health of the Asian economic giant. Markit economist Annabel Fiddes sa