Market update - China (
) reported disappointing HSBC Flash Manufacturing PMI of 47.7
compared to estimates of 48.6. The previous reading was
48.2. China, the second largest economy headlines pushed
the Asian markets broadly lower early in the Asian session.
Official data out of Japan added pressure to the NIKKIE with
data indicating Japan's trade balance has now fallen short for 12
Japan's exports did increase by 7.4% a defendant improvement
but the exports did fall short of analysts' expectations of
A Japan' exports into China increased by 4.8% while exports to
the U.S. increased by 14.6% it's important to note exports to
U.S. did fall short of May's exports of 16.3%.
The NIKKEI closed lower by -0.32% to 14731.28 on the economic
Hong Kong's (
) Flash HSBC Purchasing Managers Index dropped to 47.7 for the
month of July pushing the index to an 11 month low. Remember the
HSBC is precedes the official government report by a week. A
level of 50 is the line in sand that determines growth or
Hong Kong continues to struggle with unemployment with its
latest reading of the employment index of 47.3 the lowest level
since March of 2009.
Elsewhere in Asia - Singapore (
) ticked higher by 0.65% and South Korea (
) ticked higher by 0.42% recovering off their lows on the