Slowdown in China hits asset markets

摘要

Shares in the major mining firms fell today after a contraction in China’s latest Chinese manufacturing data. The HSBC purchasing managers index fell to 48.3 for June from 49.2 in May, a nine-month low. Anything under 50 indicates a contraction. “Manufacturing sectors are weighed down by deteriorating external demand, moderating domestic demand and rising destocking pressures,” HSBC Asian economic research chief Hongbin Qu said.