News Headline Summary

Chinese HSBC Manufacturing PMI (Dec) M/M 51.5 vs. Exp. 50.9 (Prev. 50.5); highest since May 2011

Reaction details (02:49)

- AUD/USD immediately spiked higher by 8 pips from 1.0397 to 1.0405, trades 1.0406 (+34 pips) last.
- 2 minutes after, Hang Seng moved up by 0.22%, trades 22,654.79 last.

Analysis details (02:53)

- A sub-index tracking new orders showed even more room for optimism, rising to 52.9, its highest level since January 2011.
- 'Such a momentum is likely to be sustained in the coming months when infrastructure construction runs into full speed and property market conditions stabilise,'according to HSBC's chief economist for China.

31 Dec 2012 - 02:45 - - Source: Newswires

Subscribe Now to RANsquawk

Click here for a 1 week free trial

RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: