Asian markets sank on Thursday after Chinese PMI data remained weak, at 47.8. The Shanghai Composite tumbled 2.1% to 2025, the Hang Seng shed 1.2% to 20591, and the Nikkei fell 1.6% to 9087. The Kospi dropped .9% to 1990, and the ASX 200 dipped .5%, as energy shares led the region lower.
In Europe, markets dropped as well, as banks came under pressure, pulling the European baking index down 2.1%. The FTSE and CAC40 both fell .6%, while the DAX closed down 1 point to 7389.
US stocks opened sharply lower but recovered by the close. The Dow rose 19 points to 13597, the Nasdaq slipped .2% to 3176, and the S&P 500 eased fractionally to 1460.
Green Mountain Coffee Roasters tumbled 9.6% after Starbucks announced its own coffee brewing machine.
Bed Bath and Beyond plunged 9.8% after missing earnings forecasts.
Currencies
The Euro and Swiss Franc fell .6% to 1.2967 and .9331 respectively. The Australian Dollar declined .3% to 1.0426, the Yen eased .2% to 78.26, and the Pound settled flat.
Economic Outlook
Weekly unemployment claims improved by 3K to 382K, but fell short of forecasts of 374K. The Philly Fed manufacturing index rose to -1.9 from last month’s -7.1, better than expected.
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Daily Analysis – Weak Chinese PMI Data Weighs On Asian Markets
Published 09/21/2012, 06:43 AM
Updated 05/14/2017, 06:45 AM
Daily Analysis – Weak Chinese PMI Data Weighs On Asian Markets
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