Asian Markets Get Boost over Data

Asian markets got a boost Monday on the strength of a rally by commodity stocks and despite continued weakness in the Chinese manufacturing sector.

Despite continued weakness in the Chinese manufacturing sector, a rally in commodity stocks boosted Asian markets that made small gains Monday.

 

 Two sets of data were released and investors were weighing the implications of both the sets of data. The official purchasing managers' index that was released over the weekend was at 50.2, being just above 50 and pointing toward a small rise in manufacturing activity even though it was the worst figure since November.

The other data from HSBC PMI concentrates more on small and medium-sized companies than the other official data. It was released on Monday morning and it showed a weakening in June to 48.2, compared to 48.4 in May and indicating a contraction in activity.


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