China Data Shows Continued Contraction
Tweet
Share
E-mail
Get Alerts FXI Hot Sheet
Join SI Premium – FREE
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Next week looks quiet for greater China - Analyst
- Crude Inventory Rose 2.7 Million Barrels Last Week, Says EIA
- Housing Starts (Mar) 1.32M vs 1.49M Expected
Create E-mail Alert Related Categories
Economic DataRelated Entities
HSBCSign 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!
