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HSBC
South Korea And China Sign Free-Trade Agreement: Will It Help To Avoid Growth Contraction?
“South Korea and China signed a free-trade deal on Monday that will remove tariffs on more than 90 percent of goods over two decades,” Business Mirror reports. The agreement covers 22 areas, including finance and online commerce. However, rice and autos have been excluded from the document. The deal should boost South Korea’s GDP by 1 percentage … Continue reading
China Manufacturing PMI At 50.2 In May, In Line With Forecasts
The official manufacturing Purchasing Managers’ Index (PMI) edged up to 50.2 from April’s 50.1 in line with analysts’ forecast for a 50.2 reading. A reading above 50 points indicates growth on a monthly basis, while one below that points to contraction. “In view of the sizes of enterprises, the PMI of large-sized enterprises was 50.7 … Continue reading
China May Official PMI Seen Colourless: Stimulus Measures Ineffective?
“China’s factories struggled to expand in May despite recent interest rate cuts and other policy stimulus, a Reuters poll showed, suggesting the government may have to do more to halt a protracted slowdown in the economy,” Reuters reports. The official manufacturing Purchasing Managers’ Index, known as PMI, is forecast to inch up to 50.2 from April’s … Continue reading
UK And China Deepen Financial Links: London Launches Europe’s First Yuan-Denominated ETF
The UK has deepened its financial links with China on Wednesday and has become the first country in Europe to launch a yuan-denominated money market fund, which allows investors to gain direct exposure to China’s interbank lending market, Reuters reports. The exchange-traded fund (ETF) from China Construction Bank International — China’s second largest bank — will be domiciled in the … Continue reading
Chinese Manufacturing Index Falls To Lowest Value In Over Two Years
China has announced its Purchasing Manager’s Index (PMI) for January showed a contraction in the factory sector for the first time in almost two and a half years. By Sputnik MOSCOW, February 1 (Sputnik) – China’s National Bureau of Statistics (NBS) on Sunday released data showing that the country’s manufacturing activity shrank in January for the first time since October … Continue reading
Russian Growth Slows to 3-Month Low, Export Continues to Fall, Inflation hits 43-month high: HSBC
Following the latest October Markit report “the Russian manufacturing sector continued to register growth of output at the start of the fourth quarter, according to HSBC PMI® data compiled by Markit. That said, expansion of new orders lost Momentum, and firms continued to cut staffing levels. New export business remained a major drag on total new order … Continue reading
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