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From Bloomberg: The preliminary reading was 50.4 for a purchasing managers’ index released today by HSBC Holdings Plc (HSBA) and Markit Economics. It compares with a final level of 49.5 for October. A reading above 50 indicates expansion. Gains in manufacturing bolster prospects for a sustained pickup in economic growth that slowed last quarter to [...] China was one of the major engine for the global growth after the 2008 crisis. When Chinese economy stumbled in 2008, she responded with a stimulus package which also lifted other economies. Now Chinese economy is slowing down too with signs that current manufacturing slump may match that of 2008 crisis. China’s manufacturing may shrink [...] For the first time since November 2008, the People’s Bank of China has cut the key lending rate by 25 basis points. “The changes indicate mounting concern in Beijing over slowdown of growth,” said Credit Agricole CIB economist Dariusz Kowalczyk in a report. Like other emerging economies, the Chinese economy is also feeling a drag [...] “The three nations are major traders, and together accounted for 19.6 per cent of global gross domestic product and 18.5 per cent of exports in 2010, according to a feasibility study issued by their governments last year on the trade pact.” ““China is the biggest trade partner of both Japan and South Korea. A free-trade [...] “This confirms that inflation is trending down and that the policy focus will remain on promoting growth,” Zhang Zhiwei, China economist at Nomura in Hong Kong. Company & Finance News from Hong Kong & China | Hong Kong Business News | SCMP.com Some very good strategists are turning bullish on the Chinese market. “China’s longest bear market since 2005 is ending as government efforts to bolster the economy spur a rally in stocks, say the strategists whose buy recommendations two years ago preceded a 34 percent gain in the Shanghai Composite Index.” From a high of 6429 [...] |
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