Chinese stocks sag as trade fight trumps stronger economic data

Official and private surveys of China's manufacturing activity rose more than expected in September, data showed Monday.The Caixin Purchasing Managers Index, a privately-conducted survey, expanded at the quickest pace in 19 months, reaching 51.4 in September. It was up from 50.4 in August and beating an estimated 50.2 in a Reuters poll of analysts. The government's official PMI for September also beat analyst estimates, increasing to 49.8 from the 49.5 it registered in August.

Ting Lu, an economist for Japanese brokerage firm Nomura, agreed the rebound is unsustainable. "An escalation of US-China trade tensions remains likely, while the slowing of global growth has been another drag on China's exports," he said. US moves hit Chinese firmsChina's economic slowdown has been compounded by its months-long trade war with the United States. Senior officials from the two countries are expected to meet in Washington later this month for trade talks.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China says companies facing many difficulties due to trade frictionsChinese companies are facing many difficulties due to trade frictions, Commerce ... So sad, lol! That will level out when it is over, well say that too them and what you are willing to do--
Source: Reuters - 🏆 2. / 97 Read more »

Asia stocks set to trade lower as US considers curbs on investments in ChinaThe release of the China Purchasing Managers' Index is expected later today, while Anheuser-Busch InBev's Budweiser APAC listing is expected to make its public debut in Hong Kong.
Source: CNBC - 🏆 12. / 72 Read more »