China Data Shows Continued Contraction
Tweet Send to a Friend
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.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- HSBC Slashes China Growth Outlook for FY13, FY14; Cites Refocus on Supply Reforms
- May Housing Starts 914k vs 950k Expected
- Markets Crash as Bernanke Signals the Death of QE
Create E-mail Alert Related Categories
Economic DataRelated Entities
HSBC
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
