Overseas Trading: Chinese Manufacturing Data Sinks Asian Stocks

A key reading on China's manufacturing sector hit a more than six-year low, weighing on equities throughout Asia

Sep 23, 2015 at 8:34 AM
facebook twitter linkedin

Stocks in Asia took a hit today on fresh concerns about China's economy, after data confirmed an ongoing contraction in the country's manufacturing sector. The preliminary Caixin China manufacturing purchasing managers index (PMI) missed expectations, falling to 47.0 -- its lowest reading since early 2009. The Shanghai Composite slipped 2.2% as a result, while Hong Kong's Hang Seng closed 2.3% lower. Brokerages were among the top laggards, with Citic Securities facing front-running allegations from the Chinese government.

In South Korea, the Kospi dipped 1.9%, with automakers erasing the prior session's big gains amid the Volkswagen emission scandal. Markets in Japan remain closed for holiday.

Elsewhere, European bourses are turning a blind eye to China's weakness, with stocks recovering from yesterday's sell-off.​ Even Volkswagen has turned higher after giving up roughly 30% of its market value in the past two days, with the beaten-down automaker shrugging off a fresh round of brokerage downgrades. London's FTSE 100 was up 1.6% at last check, while Germany's DAX has added 0.8%, and France's CAC 40 is up 0.6%. 



Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 


300x250 - Banner 3 - v1