All articles tagged with #china pmi
Asia-Pacific stocks fell Monday, led by Korea’s Kospi with futures plunging up to 5%, while Hang Seng and CSI 300 also declined. Gold and silver extended Friday’s declines as investors eyed China’s January PMI, which showed manufacturing expanding at 50.3—the strongest reading in months. Bitcoin slipped back under $80,000 and U.S. stock futures edged lower, signaling a cautious session ahead.
Asia-Pacific markets showed mixed performance as China's manufacturing PMI for October missed expectations, indicating a slowdown, with Hong Kong and Australia slightly down, while South Korea's Kospi led gains, reflecting cautious investor sentiment amid economic data and upcoming monetary policy decisions.
Oil prices fell due to concerns over the US Federal Reserve raising interest rates, which could slow growth and hit fuel demand, and weaker Chinese manufacturing data. Brent futures for July delivery were down 0.8% at $79.72 a barrel, while US West Texas Intermediate crude lost 0.8% to trade at $76.15. The Fed is expected to increase interest rates by another 25 basis points this week. China's manufacturing purchasing managers' index declined to 49.2 from 51.9 in March, slipping below the 50-point mark that separates expansion and contraction in activity on a monthly basis.