Preliminary results of a new survey of Chinese factories show a slowdown is occurring.The HSBC/Markit Economics China Flash PMI for November came in at 50.5,a three month low,missing the Bloomberg estimate of 50.9 and declining from November's final number of 50.8.Over 50.0 signifies growth in the manufacturing sector.The report revealed weakness in output gains and employment,although new orders were up.
Asian shares were down almost across the board on the news,along with fears of a Federal Reserve cutback in asset purchases,with the Nikkei dropping 1.62% in Monday trading and the Shanghai Composite off 1.60%.*
A late Sunday clash in a village near Kashgar in Northwest China's Xinjiang Province left 16 dead,according to official news agency Tianshan. Muslim Uighur militants reportedly attacked police with explosive devices and knives,killing 14 officers.Two police also died.The area has a history of unrest aimed at Han Chinese immigration into the ethnic Turkic region.*
Sergio Garcia took his fourth Asian Tour career victory Sunday at the Thailand Golf Championship at Amata Spring Country Club in Bangkok.It was the Spaniard's first and only win of the now-concluded 2013 season.He hadn't won since last December at the Johor Open in Malaysia.
Henrik Stenson of Sweden was second on the leader board,and Frenchman Alexander Levy finished third.
Showing posts with label purchasing managers. Show all posts
Showing posts with label purchasing managers. Show all posts
Monday, December 16, 2013
Monday, April 1, 2013
Asia This Day:Qantas and Emirates Join Forces;Japanese Hiring Up
Japan's Tankan business confidence survey was up less than expected,from -12 in February to -8 in March,although it was the best quarterly improvement in two years.At the same time,China also reported a slight miss in estimates as the Purchasing Managers Index rose to 50.9 in March from 50.1 in February.HSBC's China PMI reading rose to 51.6 from 50.4,a little stronger improvement than the government's version.
Asian markets were lower on the mildly disappointing data,with the MSCI Asia-Pacific index falling 0.74% in early Monday trading.Markets in Hong Kong,Australia and New Zealand remain closed till Tuesday for the Easter holiday.
Chinese authorities told Beijing and Shanghai to place new restrictions on home buying in an attempt to limit skyrocketing prices.Homeowners were not to be granted credit to buy second or third homes.
Australia's airline Qantas and the UAE's Emirates Air have inaugurated their new alliance with a symbolic first flight .It will now be possible for Qantas passengers to fly to 65 international destinations from Melbourne and Sydney with one connecting flight in Dubai,as opposed to only five destinations in a previous alliance with British Airways.This will shave two hours off of flights to Europe.
Bookings to Europe are up six-fold on the new routes,which Goldman Sachs believes will be worth about Australian 90 million dollars to Qantas-or US 94 million.Qantas has cut its deficit from A262 million to A91 million in the first half of the fiscal year on retiring old planes and cutting unprofitable routes.CEO Alan Joyce has pledged to return the carrier to profitability.
For the first time in three years,Japan Airlines graduated about a thousand new hires in a JAL hangar in Tokyo.The workers stood stock-still in formation at the ceremony Monday.
Nomura Securities has hired the most new graduates in four years on the strength of the banking industry.
Asian markets were lower on the mildly disappointing data,with the MSCI Asia-Pacific index falling 0.74% in early Monday trading.Markets in Hong Kong,Australia and New Zealand remain closed till Tuesday for the Easter holiday.
Chinese authorities told Beijing and Shanghai to place new restrictions on home buying in an attempt to limit skyrocketing prices.Homeowners were not to be granted credit to buy second or third homes.
Australia's airline Qantas and the UAE's Emirates Air have inaugurated their new alliance with a symbolic first flight .It will now be possible for Qantas passengers to fly to 65 international destinations from Melbourne and Sydney with one connecting flight in Dubai,as opposed to only five destinations in a previous alliance with British Airways.This will shave two hours off of flights to Europe.
Bookings to Europe are up six-fold on the new routes,which Goldman Sachs believes will be worth about Australian 90 million dollars to Qantas-or US 94 million.Qantas has cut its deficit from A262 million to A91 million in the first half of the fiscal year on retiring old planes and cutting unprofitable routes.CEO Alan Joyce has pledged to return the carrier to profitability.
For the first time in three years,Japan Airlines graduated about a thousand new hires in a JAL hangar in Tokyo.The workers stood stock-still in formation at the ceremony Monday.
Nomura Securities has hired the most new graduates in four years on the strength of the banking industry.
Sunday, July 3, 2011
Asia This Day
Thailand's opposition Peau Thai party has scored a decisive victory in Sunday's election,bringing the country's first female prime minister,Yingluck Shinawatra,to power.There's still a lot of work to do for the well-being of the people and unity and reconciliation,the 44-year old politician said.She is the sister of deposed prime minister Thaksin Shinawatra,who is in exile in Dubai.The victory is being seen as an expression of voter dissatisfaction with the ruling elite.
The Thai army has accepted the result.She is to hold discussions with them.Ms.Shinawatra made the namaste gesture,her hands pressed together,as she acknowledged her victory.
China's purchasing managers indexes have come in less than expected,showing that the government's efforts to prevent bubbles from forming are having an effect.The manufacturing PMI was at 50.9,and the service sector PMI registered a 57.0 for June,indicating growth was still occurring,but at a slower pace than had been supposed.
The Asian markets all opened higher on Monday morning in reaction to Wall Street's strong performance on Friday.
Hong Kong went to work in hot and humid conditions,with the temperature at 88F and the humidity at 70%.Winds were southwest at 15mph under partly cloudy skies.
The Thai army has accepted the result.She is to hold discussions with them.Ms.Shinawatra made the namaste gesture,her hands pressed together,as she acknowledged her victory.
China's purchasing managers indexes have come in less than expected,showing that the government's efforts to prevent bubbles from forming are having an effect.The manufacturing PMI was at 50.9,and the service sector PMI registered a 57.0 for June,indicating growth was still occurring,but at a slower pace than had been supposed.
The Asian markets all opened higher on Monday morning in reaction to Wall Street's strong performance on Friday.
Hong Kong went to work in hot and humid conditions,with the temperature at 88F and the humidity at 70%.Winds were southwest at 15mph under partly cloudy skies.
Tuesday, August 7, 2007
Purchasing Managers Ease Up
According to two surveys taken by the Institute for Supply Management,the U.S. economy is slowing.The ISM,a purchasing managers trade group,released its manufacturing and non-manufacturing indexes last week.The manufacturing index,a survey of factories and utilities,dropped from 56 in June to 53.8 in July.In a recession,the index could drop below 50.The non-manufacturing index showed a decline from 60.7 in June to 55.8 in July.Since the service sector represents 80% of the U.S. economy,this number is even more significant.The drop in these indexes parallels the slowing in job creation reflected in last Friday's employment report.The U.S. economy had been widely expected to cool off in the second half of 2007.This points investors to multinational firms that are not so reliant on U.S. profits,such as United Technologies(UTX) and 3M(MMM). Investors should be cautious today.The Federal Reserve issues its interest rate decision and remarks at 2:15 PM EST.If the market doesn't like them,it could take a tumble.
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