China Stocks Pressured as PMI Slumps to 50.4 in November
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China ETFs are largely lower following a slow-down in the country's manufacturing sector reported over the last month.
According to data from HSBC Holdings plc (NYSE: HBC) and Markit Economics, China's Purchasing Managers' Index (PMI) came in at 50.4, from 50.9 in October and expectations calling for 50.8. It was the first decline in PMI over the last four months.
The final PMI reading will be released December 2nd. China's National Bureau of Statistics also publishes its own PMI reading, which will be released on December 1st.
Output was said to have expanded at a faster pace, while orders rose at a slower pace.
China's leaders have been looking to implement broader changes to bolster the country's slowing growth. Some efforts include accelerating yuan convertibility, relaxing residence-registrations in medium-sized cities, and cutting price controls on such commodities as gas, oil, and water.
Readings above 50.0 indicated expansion in a segment.
ETFs include iShares China Large-Cap (NYSE: FXI), iShares MSCI China (NYSE: MCHI), SPDR S&P China (NYSE: GXC), PowerShares Golden Dragon China (NYSE: PGJ), and others.
According to data from HSBC Holdings plc (NYSE: HBC) and Markit Economics, China's Purchasing Managers' Index (PMI) came in at 50.4, from 50.9 in October and expectations calling for 50.8. It was the first decline in PMI over the last four months.
The final PMI reading will be released December 2nd. China's National Bureau of Statistics also publishes its own PMI reading, which will be released on December 1st.
Output was said to have expanded at a faster pace, while orders rose at a slower pace.
China's leaders have been looking to implement broader changes to bolster the country's slowing growth. Some efforts include accelerating yuan convertibility, relaxing residence-registrations in medium-sized cities, and cutting price controls on such commodities as gas, oil, and water.
Readings above 50.0 indicated expansion in a segment.
ETFs include iShares China Large-Cap (NYSE: FXI), iShares MSCI China (NYSE: MCHI), SPDR S&P China (NYSE: GXC), PowerShares Golden Dragon China (NYSE: PGJ), and others.
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