Markets dip on bad news from China | Bangkok Post: business

Business > Finance

Markets dip on bad news from China

- +

HONG KONG — Asian stocks slipped on Tuesday after an HSBC report showed the performance of China's service sector fell to a record low in July, and despite a positive lead from Wall Street. 

The HSBC China services Purchasing Managers' Index in July slipped to 50.0, the dividing line between expansion and contraction, down from 53.1 in June.

"The weakness in the headline number likely reflects the impact of the ongoing property slowdown in many cities, as property-related activity, such as agencies and residential services, see less business," Qu Hongbin, HSBC chief economist for China, said in a statement.

This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.

0 people commented about the above

Readers are urged not to submit comments that may cause legal dispute including slanderous, vulgar or violent language, incorrectly spelt names, discuss moderation action, quotes with no source or anything deemed critical of the monarchy. More information in our terms of use.

Please use our forum for more candid, lengthy, conversational and open discussion between one another.

  • Latest
  • Oldest
  • Most replied to
  • Most liked
  • Most disliked

    Click here to view more comments