China PMI to Shed More Light On Slowdown
Bareksa • 19 Sep 2014
Investors will get the latest health check on the Chinese economy with factory data. Also, politics comes into the mix with Hong Kong students set to boycott classes in the name of democracy. Sareena Dayaram reports.
Investors will get the latest health check on the Chinese economy with factory data
Bareksa.com - Investors will get the latest health check on the Chinese economy with factory data. Also, politics comes into the mix with Hong Kong students set to boycott classes in the name of democracy.
(SOUNDBITE) (English) REUTERS REPORTER, SAREENA DAYARAM, SAYING:
"Expect a politically charged week with students in Hong Kong gearing up for pro-democracy protests. We also get a reading on the Asia's top economy amid the regional earnings season."
Students in Hong Kong plan to boycott classes starting Monday (Sep 22) unless Beijing agrees to their demands of allowing Hong Kong residents to vote for their own nominated candidates.
Last month, Beijing ruled that it has the final word when it comes to who can run for the city's top leadership position in the 2017 elections.
(SOUNDBITE) (English) REUTERS REPORTER, SAREENA DAYARAM, SAYING:
"Veering away from politics now to talk about earnings from some of the familiar consumer names in the region."
China's largest shoe retailer, Belle International, reports its quarterly numbers within the week but don't hold your breath.
The firm, which distributes brands like Nike and Adidas in China, has warned of sluggish growth in the next two years.
But Belle International isn't alone, business has been tough for Chinese retailers due to fierce competition amid China's slowing economy.
On the topic of troubled retailers, Esprit's expected to release its full-year numbers on Tuesday (Sep 23).
The big question investors are asking is whether Esprit's turnaround will last.
In the first half, Espirit swung to its first profit in a year following global restructuring, cost cutting and hiring executives from rival retailer, Zara.
(SOUNDBITE) (English) REUTERS REPORTER, SAREENA DAYARAM, SAYING:
"Also on Tuesday, we get the latest health check on China's vast and vital manufacturing sector with HSBC's initial survey for September."
Growth in China's factory sector slowed to a three-month low in August that's got many worried about the country's economy considering recent data including the latest property figures, hasn't been encouraging. (Source: Reuters)