China's Nov manufacturing PMI tops forecast: HSBC

China's manufacturing purchasing managers' index (PMI) dipped to 50.8 in November, beating the flash estimate of 50.4, a HSBC survey showed on Monday.

However, the final reading of the HSBC November manufacturing PMI was down a notch from 50.9 in October. A reading of above 50 indicates an expansion in manufacturing activity from the previous month, while that below 50 means a contraction.

The HSBC final PMI reading came one day after China's statistics bureau said the country's November manufacturing PMI stood at 51.4 percent, unchanged from October and remaining at an 18-month high.

Qu Hongbing, chief China economist with HSBC, said China's manufacturing sector kept relatively steady growth momentum in November, as the final manufacturing PMI was revised up from the flash reading on the back of faster new business gains.

"However, the renewed contraction of employment and the slower pace of restocking activities call for a continuation of accommodative policy. The modest inflationary pressures leave room to do so," Qu said in a statement.

The benchmark Shanghai Composite Index fell 0.59 percent to end at 2,207.37.