Thursday 1 March 2012

China official Feb manufacturing PMI rises to 51.0

HONG KONG (MarketWatch) -- China's official manufacturing Purchasing Managers' Index gained further in February, rising to 51.0, up from 50.5 in January, according to data released Thursday. The survey outcome, signaling a further improvement in the nation's manufacturing activity, matched the median of economist forecasts polled by Dow Jones Newswires.

It did not do better nor did it do worse. This figure matched the forecast, hence Shanghai composite increase a bit only. Asia market quite stagnant overall now. Probably in anticipation of tonight ISM report from US and PMI report from Europe.

A good report from US is needed for STI to stand above 3000, Dow Jones above 13000 firmly.

Btw, Yesterday US Chicago PMI showed an excellent result. Actual result 64.0, exceeds forecast of 61.6. I think good chance that today's ISM can exceed also.

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