Asian stocks started the week mixed, following a rebound in global crude oil prices, but markets remained cautious ahead of the HSBC’s final reading of China’s factory activity for January, due at 0945 SIN/HK.
Economists polled by Reuters see the purchasing managers’ index (PMI) inching up to 49.8, slightly higher than HSBC’s final figure of 49.5 in December and in line with last week’s preliminary reading and an official survey announced at the weekend.
China’s factory sector unexpectedly shrank for the first time since September 2012 in January and firms see more gloom ahead, an official survey showed on Sunday. The 50-point level separates growth from contraction on a monthly basis.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015