(May 2 Monday) China's Manufacturing PMI fell to 50.1 in April below the median forecast of 50.4 compared to 50.2 in March published by China's Federation of Logistics & Purchasing on May1st 8:55 am in Beijing. The data has not made much change from the previous month of March. Despite a lower number versus the median estimate, the index has remained above the 50 threshold between expansion and contraction in the recent two months. The reading fell below 50 in Aug 2015 and recovered only in March 2016.
New orders for internal demand fell to 51.0 and new export orders for external demand fell to 50.1. Non-manufacturing PMI was also slightly lower than expected at 53.5 in April down from 53.8 in March.
China's stock markets are closed today for a public holiday which would have otherwise pushed the CSI 300 Index and Hang Seng lower. Australia's S&P/ASX 200 Index closed lower at -0.18% to 5,242.97 in a thin market in the absence of Chinese participation.