{"id":43745,"date":"2013-11-04T07:53:20","date_gmt":"2013-11-04T12:53:20","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=43745"},"modified":"2013-11-04T07:53:20","modified_gmt":"2013-11-04T12:53:20","slug":"asian-stocks-clears-previous-gains-on-china-pmi","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2013\/11\/04\/asian-stocks-clears-previous-gains-on-china-pmi\/","title":{"rendered":"Asian Stocks Clears Previous Gains On China PMI"},"content":{"rendered":"

By HY Markets Forex Blog<\/a><\/u><\/strong> <\/p>\n

Asian stocks \u00a0were seen trading lower on Monday, trimming gains seen in the previous session from the upbeat China data and ahead of the highly anticipated Chinese Community Party meeting scheduled later during the week.<\/p>\n

Shares in the Asia-Pacific region began the trading session in green, driven by the sign of rapid growth in China. The official Non-Manufacturing Purchasing Managers Index (PMI) came in at 56.3 in October, advancing to a 14-month high.<\/p>\n

The upbeat data had a positive effect on the equities, as stocks in the region dropped later in the session and investors focus on the upcoming key meeting of China\u2019s Communist Party, where members of the party is expected to discuss China\u2019s economic agenda. China\u2019s Communist Party\u2019s upcoming meeting is scheduled from November 9-12, in Beijing.<\/span><\/p>\n

Meanwhile, the US Federal Reserve\u2019s (Fed) tapering is still in the spotlight, despite the forecasted outcome of the Open Market Committee (FOMC) meeting last week.<\/strong><\/p>\n

Asian Stocks –\u00a0China<\/span><\/h2>\n

Hong Kong\u2019s benchmark Hang Seng was seen flat, edging 0.12% lower to 23,220.00, while the mainland benchmark in Shanghai declined 0.05% lower to 2,147.75 points.<\/p>\n

Down from the gains seen from the string of upbeat data\u2019s released on Friday, including the above-forecasted gross domestic product (GDP) growth published in October. The second largest economy grew an annual 7.8% in the third quarter, after China\u2019s growth dropped 7.5% lower in the June quarter.<\/p>\n

“China\u2019s Steel PMI in October contracted for two consecutive months, down to 47.5 from 49.2 in September. This does not necessarily contradict with China\u2019s overall PMI expansion in October. In fact, if you look at the detailed breakdown, China\u2019s October overall PMI expansion was fueled by output PMI only, other sub indexes mostly pointed to slowed pace in tapering, especially, new order PMI slowed in October to 52.5 from 52.8 in September,” Helen Lau, senior analyst for UOB Kay Hian, stated in a note.<\/p>\n

Kunlun Energy was the session\u2019s main movers, climbing 3.6 higher, while Tingyi Cayman Islands Holding dropped 3%.<\/p>\n

HSBC holdings are expected to announce its earnings report for the third-quarter after the market closes later today.<\/p>\n

 <\/p>\n

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The post Asian Stocks Clears Previous Gains On China PMI<\/a> appeared first on | HY Markets Official blog<\/a>.<\/p>\n

Article provided by HY Markets Forex Blog<\/a><\/u><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

By HY Markets Forex Blog Asian stocks \u00a0were seen trading lower on Monday, trimming gains seen in the previous session from the upbeat China data and ahead of the highly anticipated Chinese Community Party meeting scheduled later during the week. Shares in the Asia-Pacific region began the trading session in green, driven by the sign … <\/p>\n

Continue reading “Asian Stocks Clears Previous Gains On China PMI”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-43745","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/43745","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/comments?post=43745"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/43745\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=43745"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=43745"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=43745"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}