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1 Apr 2015
China Manufacturing PMIs edge higher – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team comments that after a dismal performance in the previous two months, Chinese Manufacturing PMIs edged higher, while average prices of new residential properties across major 100 cities fell 0.15%.
Key Quotes
“Major regional equities are down a uniform 0.5% but again Chinese stocks are up +1.5% to fresh multi year highs.”
“The commodities complex is broadly firmer save for flat Brent futures and iron ore. Gold is near US$1190oz, +0.4% and copper futures +0.55%.”
“Asian indices are mixed, as markets in China respond to a surprise expansion in manufacturing PMI, while Tokyo succumbed to a disappointing quarterly Tankan.”
“China released PMI figure that showed manufacturing return to expansion after two months of contraction. Output component saw the biggest increase, as the slide in new export orders pointed to tepid external demand.”
“Non- manufacturing was down slightly, but still firmly in expansion territory.”
“HSBC data, measuring smaller enterprises, topped consensus but was still in contraction at 49.6, and resident economist pointed to "the pace of job shedding the strongest since last summer".”
“Economist with NBS downplayed the rise in the official figure, citing a seasonal rebound after the holiday, but the results still yielded a bounce in AUD/USD, rising about 40pips above 0.7660.”
“Also of note in China, avg prices of new residential properties across 100 major cities fell 0.15% - a similar margin relative to the prior month's -0.24%. China Index Academy added that thus far in march, housing inventories have been falling.”
“China March manufacturing pmi: 50.1 v 49.7e; 1st expansion after two consecutive contractions”
“China March final hsbc manufacturing pmi: 49.6 v 49.3e”
“China March non-manufacturing pmi: 53.7 v 53.9 prior”
Key Quotes
“Major regional equities are down a uniform 0.5% but again Chinese stocks are up +1.5% to fresh multi year highs.”
“The commodities complex is broadly firmer save for flat Brent futures and iron ore. Gold is near US$1190oz, +0.4% and copper futures +0.55%.”
“Asian indices are mixed, as markets in China respond to a surprise expansion in manufacturing PMI, while Tokyo succumbed to a disappointing quarterly Tankan.”
“China released PMI figure that showed manufacturing return to expansion after two months of contraction. Output component saw the biggest increase, as the slide in new export orders pointed to tepid external demand.”
“Non- manufacturing was down slightly, but still firmly in expansion territory.”
“HSBC data, measuring smaller enterprises, topped consensus but was still in contraction at 49.6, and resident economist pointed to "the pace of job shedding the strongest since last summer".”
“Economist with NBS downplayed the rise in the official figure, citing a seasonal rebound after the holiday, but the results still yielded a bounce in AUD/USD, rising about 40pips above 0.7660.”
“Also of note in China, avg prices of new residential properties across 100 major cities fell 0.15% - a similar margin relative to the prior month's -0.24%. China Index Academy added that thus far in march, housing inventories have been falling.”
“China March manufacturing pmi: 50.1 v 49.7e; 1st expansion after two consecutive contractions”
“China March final hsbc manufacturing pmi: 49.6 v 49.3e”
“China March non-manufacturing pmi: 53.7 v 53.9 prior”