US Market closed Friday on a cautious note, near their flat line, trading volume were below average @ 685mil shares...market was quiet ahead fo the week end because of Ukranian situation. Nikkei Closed, Hang Send-1.37%, Shanghai -0.74% on china Manuf. contraction, Ukranian crisis weighted also on Market...HSBC said its April look at manufacturing conditions showed more deterioration than previously thought, sending Hong Kong’s Hang Seng index 1 per cent lower and taking the wind out of an earlier rally in Australia. Markets are closed for a holiday in Japan, South Korea and Thailand....“The manufacturing sector, and the broader economy as a whole, continues to lose momentum,” said Qu Hongbin, HSBC economist. He noted the new export orders and employment components each contracted and were revised down from earlier readings.
“Sluggish domestic demand predominantly led to the fall in total new business,” said Mr Qu.
Eur$ 1.3871 S&P Fut -0.08% European Fut: +0.15%
Macro
- HSBC China April Manufacturing PMI 48.1; Est. 48.4
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