Asia Pacific share market closed mostly down on Monday, 02 February 2015, as sentiment turned risk-averse after disappointing US GDP growth data and Chinese manufacturing PMI figures rekindled concerns about the state of the global economy.
Monday's decline followed a tumble on Wall Street on
Friday as data showed U.S. economic growth slowed sharply to a
less-than-expected 2.6% in the fourth quarter, well below the 5% in the
previous three months. The Dow Jones Industrial Average fell 1.5%, while the S&P 500 declined 1.3%. The tech-heavy Nasdaq Composite shed 1%.
Asian markets also reacted bearishly to news of further weakness in manufacturing activity in China. China's official purchasing managers' index of manufacturing activity shrank last month for the first time in more than two years, data released at the weekend showed. A mainland factory gauge from HSBC Holdings Plc/Markit Economics also missed estimates. The weaker than expected manufacturing data heightened concerns that the world's second largest economy was still struggling to gain traction after expanding at its slowest pace in 24 years in 2014.
Read more at Click here / www.advante360.com
No comments:
Post a Comment