China PMI data weakens markets

China PMI data weakens markets

China PMI data weakens markets Asian markets have once again led the decline in world equity markets as official Chinese PMI data showed that the country’s manufacturing behemoth contracted in August. The PMI figure was 49.7, only just below the dividing line between growth and contraction. However in light of recent economic woes in the world’s second-largest economy investors were hoping for positives as the new month begins. Oil declined 3 per cent on the news.

Despite China being the focus, Japan led the declines in Asian indexes and the mood spread quickly to Europe as markets opened Tuesday, with most major indexes down more than 2 per cent so far despite data showing Eurozone unemployment hitting a new 3-year low. 
 
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North America (previous session)
US Dow Jones 16,528.03 (-0.69 per cent) -6.57 per cent -3.34 per cent
TSX Composite 13,859.12 (-0.04 per cent) -4.21 per cent -11.31 per cent
 
Europe (at 6.00am ET)
UK FTSE 6,095.77 (-2.44 per cent) -8.97 per cent -10.62 per cent
German DAX 9,970.49 (-2.82 per cent) -11.84 per cent +5.18 per cent
 
Asia (at close)
China CSI 300 3,362.08 (-0.13 per cent) -11.91 per cent +42.74 per cent
Japan Nikkei 18,165.69 (-3.84 per cent) -11.75 per cent +17.38 per cent
 
Other Data (at 6.00am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
53.09
(-1.96 per cent)
48.32
(-1.79 per cent)
1141.20
(+0.79 per cent)
U$0.7592
 
Aus. Dollar
U$0.7069