HSBC Slashes China Growth Outlook for FY13, FY14; Cites Refocus on Supply Reforms
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China is on watch Wednesday as one financial firm is taking a more-realistic stance on growth potential over the next few years.
Reports have HSBC (NYSE: HBC) slashing its growth outlook for China in 2013 from 8.2 percent down to 7.4 percent. For FY14, the outlook is cut from 8.4 percent also down to 7.4 percent. HSBC cited Beijing's refocus on supply reforms versus demand stimulus.
News comes from a Tweet by HSBC's chief economist, Stephen King.
Traders will be keeping an eye on iShares FTSE China 25 Index Fund (NYSE: FXI), iShares MSCI Hong Kong Index (NYSE: EWH), SPDR S&P Small Cap Em Asia Pacific ETF (NYSE: GMFS), First Trust Emerging Markets SC AlphaDEX (NYSE: FEMS), and others.
Reports have HSBC (NYSE: HBC) slashing its growth outlook for China in 2013 from 8.2 percent down to 7.4 percent. For FY14, the outlook is cut from 8.4 percent also down to 7.4 percent. HSBC cited Beijing's refocus on supply reforms versus demand stimulus.
News comes from a Tweet by HSBC's chief economist, Stephen King.
Traders will be keeping an eye on iShares FTSE China 25 Index Fund (NYSE: FXI), iShares MSCI Hong Kong Index (NYSE: EWH), SPDR S&P Small Cap Em Asia Pacific ETF (NYSE: GMFS), First Trust Emerging Markets SC AlphaDEX (NYSE: FEMS), and others.
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