The HSBC Flash China Manufacturing PMI is published a week ahead of the final HSBC China PMI every month.

FORBES: Why Resource Investors Can Expect Sunnier Days Ahead

The HSBC Flash Manufacturing PMI retreated to 48.7 in May from the final April reading of 49.3.

FORBES: What's On Deck For China Investors?

The "flash" reading edged up to 48.8, compared to a final print of 48.7 in December and could add to expectations that Beijing will soon take additional steps to spur growth.

WSJ: Exporters, Banks Lift Asian Stocks