Chinese Markets Trade at 4 Year Lows on Poor Factory Data

“Investors were spooked by a report from HSBC that contained more dour news for China. HSBC’s initial purchasing manager’s index for Chinese manufacturing ticked up slightly to 47.8 in September from 47.6, the bank said Thursday. Any reading below 50 indicates that factory growth is shrinking rather than picking up speed.

Economists at Capital Economics said the data indicated a stabilization in China’s economy, but not a recovery.”

Full article