Wednesday, September 23, 2015

Markets down: China did it again – Swissquote

FXStreet (Delhi) – Arnaud Masset, Market Analyst at Swissquote, notes that once again, China printed disappointing PMI figures which led to fall in global markets especially Asia.

Key Quotes

“The Caixin flash manufacturing PMI fell to 47 in September, the lowest reading since early 2009, and well below market expectations of 47.5 from 47.3 the previous month.”

“Last week, the Fed emphasized that it was monitoring developments in emerging economies, meaning that bad news from those countries will likely spill over into developed markets.”

“Asian regional equity markets are suffering a heavy sell-off this morning, following Wall Street’s lead and reacting to weak data from China. The Shanghai Composite fell -2.27% while its tech-heavy counterpart, the Shenzhen Composite edged lower by -2.27%. In Hong Kong, the Hang Seng was the biggest loser as it dropped -2.91%.”
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