- HSBC China November flash PMI output sub-index hits 51.3; highest point since October 2011.
Reaction details (17:52)
- 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%.
Analysis details (17:55)
- 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.
21 Nov 2012 - 17:45 - - Source: Newswires
RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: