This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-30271975
The article has changed 6 times. There is an RSS feed of changes available.
Version 0 | Version 1 |
---|---|
Asian markets head lower on China PMI data | |
(about 1 hour later) | |
Asian markets traded mostly lower on Monday after data showed that manufacturing growth in the region's leader China slowed in November. | |
China's official purchasing managers' index (PMI) dipped to 50.3 in November from October's 50.8, closer to the 50 point mark that separates growth from contraction. | |
Economists had expected growth of 50.6. | |
In Greater China, that led Hong Kong stocks down 1.7% with the Hang Seng index at 23,580.88. | |
But, the Shanghai Composite was higher 0.3% at 2,691.26 after the government published draft rules for a bank deposit insurance scheme. | |
The rules were the latest in a series of moves to help liberalise China's banking system and interest rates in order to allow banks to compete on a commercial basis. | |
Shares of China's Everbright Bank and China Citic Bank rose 9% and 6% respectively. | |
Meanwhile, Japanese shares were up 0.9% with the Nikkei 225 at 17,611.80 after the dollar rose against the yen following oil cartel Opec's decision not to cut oil production last week. | |
The dollar was at 118.87 yen, up from 118.65 yen in New York's Friday trade. | The dollar was at 118.87 yen, up from 118.65 yen in New York's Friday trade. |
A weaker yen is good for Japanese exporters as it makes them more competitive overseas and increases profits when they are repatriated. | A weaker yen is good for Japanese exporters as it makes them more competitive overseas and increases profits when they are repatriated. |
Australian shares were down after a private gauge of inflation showed that consumer prices remained subdued in November. | Australian shares were down after a private gauge of inflation showed that consumer prices remained subdued in November. |
Falling oil prices helped offset a jump in the cost of fruit and vegetables. | Falling oil prices helped offset a jump in the cost of fruit and vegetables. |
The TD Securities-Melbourne Institute's measure of consumer prices was up 0.1% in November, after a 0.2 % rise in October. | The TD Securities-Melbourne Institute's measure of consumer prices was up 0.1% in November, after a 0.2 % rise in October. |
The benchmark S&P/ASX 200 index was trading 1.6% lower at 5,313 after closing down 1.6% on Friday - its biggest daily percentage drop in seven weeks. | |
Shares of Woodside Petroleum were down over 5%, reflecting the fall in oil prices. | Shares of Woodside Petroleum were down over 5%, reflecting the fall in oil prices. |
In South Korea, the Kospi index was down 0.07% at 1,980.78 after manufacturing activity in the country shrank for a third consecutive month in November. | |
The HSBC/Markit purchasing managers' index (PMI) was up to a seasonally adjusted 49 from a four-month low of 48.7 in October. | The HSBC/Markit purchasing managers' index (PMI) was up to a seasonally adjusted 49 from a four-month low of 48.7 in October. |
But, that still came in below the 50-mark which separates expansion from contraction. | But, that still came in below the 50-mark which separates expansion from contraction. |