Chinese stocks were chaotic after the release of the PMI

Chinese stocks were chaotic following the manufacturing industry “health” announcement

Asian stock markets also fluctuated in a mixed session on September 30 after investors’ cautious reaction about the “health” of the Chinese manufacturing industry in September.

The Shanghai Composite Index fell 0.2% to 3,218.05 points. Photo: AFP

Mainland Chinese stocks were in chaos today with the Shanghai Composite Index falling 0.2% to 3,218.05 points, while the Shenzhen Component Index inched slightly to 12,907.45 points.

Meanwhile, the Japanese stock market was “red” with the Nikkei 225 losing 1.5% to 23,185.12 points while the Topix index slipped deeper with 1.97% to 1,625.49 points.

Hong Kong market today remained in green until the end of the session with the Hang Seng Index up 1%. Shares of China’s second-largest real estate firm, Evergrande Group, listed in Hong Kong, surged 16% after the group announced deals with investors at its subsidiary Hengda Real Estate.

Shares in Evergrande have been volatile in recent days following the leak information that the corporation sent a letter to the officials of Guangdong province, China and lamented the risk of running out of money and the risks related to the debt of more than 835 billion yuan.

In Australia, the S & P / ASX 200 index fell 2.29% and closed at 5,815.90 points, while the Korean stock market closed for the holiday. Overall, the MSCI Asia-Pacific Index (excluding Japan) edged up 0.13%.

China today announced the official Purchasing Managers’ Index (PMI) in manufacturing in September increased to 51.5 points, from 51.0 in August. forecast analysis with Reuters that this index reached 51.2 in September. The PMI index above 50 shows that the sector / sector surveyed achieved growth.

Meanwhile, private survey results showed that PMI Caixin / Markit in manufacturing sector in September reached 53.0, lower than previous forecast of 51.1 by economists. The Caixin / Markit PMI index mainly assesses the performance of small and medium-sized enterprises in China, while the official PMI index focuses on large-scale and state-owned enterprises.

In addition to the PMI indicators, investors are observing other indicators of China’s economic recovery after the Covid-19 pandemic.

The money market this afternoon recorded a appreciation of the greenback. The US dollar index against other major currencies increased from 93,792 to 93,914. Japanese Yen also strengthened and traded 105.63 JPY / USD, compared with 105.80 JPY / USD set earlier. Australian dollar depreciated and traded 1 AUD / 0.7114 USD.

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