On Monday in asian market base metals looking weak after China data hsbc final manufacturing pmi realesed : actual 48.9 forecast 49.4
Base metals futures edged lower on monday, as weaker chinese manufacturing data than expected data added to concerns over the health of the world's second largest economy.
How to read this data: Below 50 indicates a contraction in manufacturing activity from the previous month, above 50 reading indicates expansion.
A sub-index measuring new export orders, a gauge of external demand, expanded to a 4-1/2-year-high of 54.5, though domestic demand appeared soft. The 50 mark separates expansion from contraction in activity on a monthly basis.
The world's second-largest economy has stumbled this year as a slowdown in the housing market further weighs on softening domestic demand.
Since Last Nov. 2014, the People's Bank of China has introduced a series of stimulus measures, including lowering interest rates twice and cutting the reserve requirement ratios of major banks twice, in order to spur economic activity and boost growth.
HSBC Final Manufacturing PMI (HIGH IMPACT DATA): Actual 48.9 Forecast 49.4
(Imapct of Data: Negative for base metals).
Data impact negative and earlier metals already in over bought zone in charts.
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