News Headline Summary

Chinese HSBC Flash Manufacturing PMI (Feb) M/M 50.4 vs. 52.2 (Prev. 52.3), the lowest in four months

- Exports sub-index reverses January gain to fall below 50, at 49.8.

Update details:

- The underlying strength of the Chinese grow recovery remains intact, as indicated by still emloyment and the recent pick-up of credit growth, according to Chief China economist in HSBC.
- The reading for February could be distorted by the Chinese Lunar New Year.

Reaction details:

- AUD/USD immediately spiked lower by 26 pips from 1.0289 to 1.0264, trades 1.0269 (-48 pips) last.
- Hang Seng index immediately moved lower by 0.29%, trades 22,801.17 last.

Print 01:46, 25 Feb 2013 - Asian News - Source: Newswires