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| Version 2 | Version 3 |
|---|---|
| Asian stocks retreat on Hong Kong protests and weak data | Asian stocks retreat on Hong Kong protests and weak data |
| (about 1 hour later) | |
| Asian stocks are heading for their fourth day of losses as political protests in Hong Kong show no signs of abating and US consumer confidence unexpectedly fell. | Asian stocks are heading for their fourth day of losses as political protests in Hong Kong show no signs of abating and US consumer confidence unexpectedly fell. |
| The regional benchmark MSCI Asia Pacific index is down 0.4% in Tokyo. | The regional benchmark MSCI Asia Pacific index is down 0.4% in Tokyo. |
| However, better-than-expected China manufacturing data may provide a lift after its official Purchasing Managers' Index (PMI) held at 51.1 in September. | However, better-than-expected China manufacturing data may provide a lift after its official Purchasing Managers' Index (PMI) held at 51.1 in September. |
| A reading above 50 indicates growth, while any below shows a contraction. | A reading above 50 indicates growth, while any below shows a contraction. |
| Markets had been expecting the PMI reading to fall to 51.0 and today's figure should provide some relief to investors concerned about a slowdown in China. | Markets had been expecting the PMI reading to fall to 51.0 and today's figure should provide some relief to investors concerned about a slowdown in China. |
| "Today's official PMI suggests the while conditions have held up better than many had expected, domestic demand remains subdued," Julian Evans-Pritchard, China economist at Capital Economics said. | "Today's official PMI suggests the while conditions have held up better than many had expected, domestic demand remains subdued," Julian Evans-Pritchard, China economist at Capital Economics said. |
| "The economy has held up better than the sharp slowdown in the August activity data suggested." | "The economy has held up better than the sharp slowdown in the August activity data suggested." |
| China and Hong Kong's stock markets are closed for the National Day public holiday. | China and Hong Kong's stock markets are closed for the National Day public holiday. |
| However, Japan's Nikkei 225 closed 0.6% lower after the closely-watched Tankan survey showed sentiment among the country's large manufacturers improved in the last three months. | |
| The yen also slipped to a six-year low against the US dollar following the Tankan survey. | The yen also slipped to a six-year low against the US dollar following the Tankan survey. |
| Political unrest | Political unrest |
| In Hong Kong, tens of thousands of pro-democracy demonstrators are continuing to occupy the city's main commercial areas for a sixth day. | In Hong Kong, tens of thousands of pro-democracy demonstrators are continuing to occupy the city's main commercial areas for a sixth day. |
| They are demanding that Hong Kong chief executive Leung Chun-ying respond to demands for his resignation and for free elections in the city. | They are demanding that Hong Kong chief executive Leung Chun-ying respond to demands for his resignation and for free elections in the city. |
| The city is bracing itself for bigger protests on Wednesday, which also marks the 65th anniversary of the founding of the People's Republic of China. | The city is bracing itself for bigger protests on Wednesday, which also marks the 65th anniversary of the founding of the People's Republic of China. |
| Several celebrations marking China's National Day have been cancelled because of the protests, which saw riot police use tear gas against the crowds over the weekend. | Several celebrations marking China's National Day have been cancelled because of the protests, which saw riot police use tear gas against the crowds over the weekend. |
| Hong Kong's Hang Seng closed 1.3% lower on Tuesday, having lost 1.9% the day before. | Hong Kong's Hang Seng closed 1.3% lower on Tuesday, having lost 1.9% the day before. |
| Ryan Huang, an analyst at IG Markets said its outlook remains "bearish". | Ryan Huang, an analyst at IG Markets said its outlook remains "bearish". |
| "The popular stock market belief that September is the worst month for investing is ringing true this time, especially in the case of the Hang Seng Index," he said in a research note. | "The popular stock market belief that September is the worst month for investing is ringing true this time, especially in the case of the Hang Seng Index," he said in a research note. |
| "With China's National Day Holidays starting on October 1, there are concerns the protests will keep tourists away from Hong Kong. Financial, retail and tourism-related stocks have suffered the brunt of the market selloff so far." | "With China's National Day Holidays starting on October 1, there are concerns the protests will keep tourists away from Hong Kong. Financial, retail and tourism-related stocks have suffered the brunt of the market selloff so far." |