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Stock declines in Asia-Pacific after the end of trade talks

2019-08-01 06:43 am | Resource: News | No Views : 33

انخفاض الأسهم في آسيا والمحيط الهادئ بعد انتهاء محادثات التجارة

Stocks in major stock markets in East Asia and the Pacific fell in Thursday afternoon trading after the collapse of trade negotiations between the United States and China. The White House said the talks were "constructive" and said Chinese officials were committed to increasing purchases of US agricultural products.

China's manufacturing sector rebounds in July

China's manufacturing sector rebounded slightly in July thanks to new orders that led the Caixin PMI to close from 50 points.

The Caixin PMI was seasonally adjusted for July at 49.9, beating the estimates of 49.6 and referring to stable conditions in China's manufacturing sector after a slight deterioration in the sector's health in June.

"China's industrial economy showed signs of recovery in July," said Cheng Shengzhong, director of macroeconomic analysis at CEBM Group. "Confidence in business has rebounded, reflecting strong flexibility in the economy." Policies such as taxes and fee cuts designed to support the economy have had an impact. Policy makers to regulate the real estate market and the financial industry. "

Japanese Manufacturing PMI up for July

Japan's final manufacturing PMI for July rose to 49.4 from 49.3 in June, but below 49.6 estimates. This is the third straight reading below the 50 point level, indicating further deflation in the manufacturing sector due to slowing global growth.

"The plight of the manufacturing sector continued, with production cut in July for the seventh consecutive month," said Joe Hayes, an economist at HMS Marquette, where the weak demand from China remained a key factor behind slowing demand for Japanese goods. Downside risks to manufacturing "Supply chain in Japan, creating an additional recession may have services again to be compensated"

Asian stocks trading
  • In mainland China, the Shanghai index fell 0.94% at 8:05 am CET.
  • While the Shenzhen Composite Index fell 0.92%. At the same time .
  • The Hang Seng Index in Hong Kong and the Japanese Nikkei 225 declined at 8:05 am CET.
  • In South Korea, the Kospi index fell 0.13% at 8:05 am CET.
  • While the Australian S & P / ASX 200 fell 0.24% at 8:05 am CET.

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