News Headline Summary

Chinese HSBC Manufacturing PMI (Nov) M/M 50.4 (Prev. 49.5), first time above 50 in 13 months

- HSBC China November flash PMI output sub-index hits 51.3; highest point since October 2011.

Update details:

- So China's economic stabilization and rebound continues with the headline marking the first time above 50 in 13 months.
- HSBC said this confirms that the economic recovery continues to gain momentum towards the year end. However, it is still in the early stages and global economic growth remains fragile.
- HSBC added that this calls for a continuation in policy easing to strengthen the recovery.

Reaction details:

- Shanghai Comp. saw no immediate reaction but the Hang Seng spiked up 0.4% from 21,540 to 21,626.
- AUD/USD immediately rose 17 pips from 1.0386 to 1.0403.
- US stock futures touched on session highs. E-mini S&P currently up 0.31%.

Print 01:45, 22 Nov 2012 - Asian News - Source: Newswires