China Data Shows Continued Contraction
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In August, manufacturing in Asia continued to slow according to PMI data released over the weekend. On Saturday, the official China August PMI reading was reported at 49.2, showing the economy was contracted. Today's HSBC final PMI reading for August was 47.6. The data shows the pace of slowing in China is faster than the government and many private observers expected.
In reaction to the data, markets in Asia declined although they later recovered some of their losses on more hopes of stimulus.
iShares FTSE China 25 Index Fund (NYSE: FXI) is expected to open lower on Monday.
In reaction to the data, markets in Asia declined although they later recovered some of their losses on more hopes of stimulus.
iShares FTSE China 25 Index Fund (NYSE: FXI) is expected to open lower on Monday.
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