Asian stocks tumbled on Thursday and
the yen firmed as a survey painted a grim picture of China’s
manufacturing sector, heightening uncertainty about the outlook for the
region’s economic powerhouse. Equities were already on the back foot
after minutes of the Federal Reserve’s latest policy meeting showed it
remained on track to taper its stimulus.
The preliminary China Purchasing Managers’ Index (PMI) from HSBC/Markit for February fell to a seven-month low of 48.3 in February from January’s final reading of 49.5, as employment fell at the fastest pace in five years.
The preliminary China Purchasing Managers’ Index (PMI) from HSBC/Markit for February fell to a seven-month low of 48.3 in February from January’s final reading of 49.5, as employment fell at the fastest pace in five years.
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