Forex Flash: Poor China HSBC PMI data reinforces view of the country's hard-landing - ING

By
A A A
Share |

FXstreet.com (Barcelona) - China HSBC Manufacturing PMI, released on Thursday by Markit, pointed to a continuing contraction in September, although slowing slightly down to 47.8 points from 47.6 points registered the previous month.

ING expert Prakash Sakpal points to two factors which make him believe that China will experience a hard landing: "weak August activity data and lack of aggressive stimulus." Today's HSBC Manufacturing PMI results only reinforced this view.

Accordingly, the analyst reiterates his "forecast of slowdown in GDP growth from 7.9% in the first half of the year to close to 7% in the second half," as well as the expectations of a "25bp PBOC policy rate cut before yearend."



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Forex and Currencies

Referenced Stocks:

FXstreet.com

FXstreet.com

More from FXstreet.com:

Related Videos

Stocks

Referenced

Most Active by Volume

72,157,294
  • $61.36 ▼ 2.65%
56,535,455
  • $34.92 ▼ 3.78%
49,608,479
  • $4.42 ▼ 3.07%
49,328,445
  • $25.91 ▼ 3.18%
48,932,529
  • $16.37 ▲ 0.49%
38,182,422
  • $3.17 ▼ 1.55%
33,297,581
  • $73.86 ▲ 1.37%
32,790,375
  • $47.43 ▼ 1.02%
As of 4/23/2014, 04:07 PM