0429 GMT - China's July PMI data point to a sharper-than-expected slowdown in growth due to the global tech rout, says Vicky Xiao, economist at ANZ. The manufacturing PMI fell back into contraction for the first time since March 2026 with the weakness was concentrated on the demand side, with drastic decreases in both new orders and new export orders, she says. The data point to a rising likelihood for policy stimulus with a potential window in September. Policy options might include deploying about CNY2 trillion of unused local government bond quotas and a cut to required reserve ratio, she adds.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.