HONG KONG, Dec 3 - Hong Kong's business activitygrew for the first time in more than 2-1/2 years in November, asurvey showed on Thursday, its first expansion since theSino-U.S. trade war, protests and the coronavirus sent the cityinto a period of deep decline. The IHS Markit Hong Kong Purchasing Managers' Index (PMI)rose to 50.1 in November from 49.8 in October, the firstexpansionary reading since March 2018. The 50-mark separatesgrowth from contraction on a monthly basis. Despite the positive reading, IHS said the PMI pointed to astabilisation in activity following a deep contraction, ratherthan a sustained improvement. "Business conditions across Hong Kong's private sectorstabilised in November, according to the latest PMI data," saidBernard Aw, Principal Economist at IHS Markit. "However, a newwave of COVID-19 infections had dampened business confidence,with a renewed tightening of containment measures threatening toundermine the economic recovery." Hong Kong leader Carrie Lam on Tuesday again urged residentsto stay at home and avoid unnecessary family gatherings as theglobal financial hub scrambles to contain a rise in coronaviruscases. REUTERS
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