CH Manufacturing PMI

That loud sputtering sound emanating from China is increasing in volume as factory activity contracts for a fourth straight month. China’s official manufacturing purchasing managers’ index (PMI) dropped to 49.1 in August from 49.4 in July. Since April 2023, this key barometer has been below the 50-mark separating expansion and contraction for all but three months. It suggests that Beijing’s efforts to revive Asia’s biggest economy care gaining less traction than hoped. “We believe more fiscal easing is necessary to help secure the ...

The dollar climbed 0.5% against the Japanese yen, but the weighted DXY dollar index is unchanged. Equity indices have edged 0.1% lower in Germany, France, Italy, Great Britain and Spain. Greater volatility was experienced in Asian share prices including gains of 1.1% in China, 0.9% in New Zealand, and 0.6% in Singapore but also a 1.7% slump in Hong Kong’s Hang Seng index. U.S. and Canadian markets will be closed for Labor Day observances. Ten-year sovereign debt yields increased overnight by 7 basis points in Italy, four bps in Great ...

China’s factory activity grew modestly among smaller manufacturers last month as export orders offset weakening domestic consumption, according to a private survey. The Caixin/S&P Global manufacturing PMI came in at 50.4 in August, according to data released Monday, beating the median estimate of 50.0 in a Reuters poll. The latest figure also reflects a rebound from the contractionary level of 49.8 in July. The private gauge, which focuses on smaller and export-oriented companies, came in contrast with the broader official PMI data ...

Investors in Asia kick off the new trading month on the front foot, optimistic about a U.S. 'soft landing' and dovish Fed outlook, which should help boost risk appetite and the appeal of emerging market assets. The recent slide in the dollar, falling U.S. bond yields and global equity bounce have resulted in a significant loosening of financial conditions that is fueling a virtuous cycle of increasing bullishness. Data last week showed U.S. growth beating forecasts and inflation cooling, just as the Fed is about to start its easing ...

Asian market trading on Monday kicks off the new week, quarter and second half of the year with investors' focus locked on a data-heavy economic calendar, especially the latest snapshot of Chinese factory activity. The Caixin manufacturing purchasing managers index report for June will go a long way to showing whether the recovery in the world's second largest economy is gathering momentum, struggling, or going into reverse. China bulls will be hoping it's the former. Some indicators in the first half of the year pointed in that ...