Chinese manufacturing activity falls for second consecutive month

China's factory activity fell for the second month in line in December on the weak global demand and ongoing tightening of the real estate market, according to HSBC. The HSBC Purchasing Managers' Index slightly gained this month to 48.7 from 47.7 in November on a seasonally adjusted basis. A reading below 50 indicates contraction. Companies also reported about inventory buildup for the first time in the last 17 months and fell in foreign orders.