Weak exports drag on China's growth

Another piece of data showing China's manufacturing sector slowed last month - The HSBC purchasing manager's index fell to 50.4 from 51.6 in March. This follows a similar fall in the official PMI yesterday. But both PMIs are still above 50, which divides expansion from contraction.

The main drag is new export orders, which slipped into contraction for both readings. Indexes for input and output prices also fell in April.

Analysts say that lower-than-expected US economic growth and record unemployment in the eurozone are adding pressure on China's economy.