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Ouch, China.

|Includes:WisdomTree Chinese Yuan ETF (CYB), DSUM, GXC, PEK

On the heels of China's recent official Manufacturing PMI contraction, HSBC came out with its own version of the China Manufacturing PMI today for the month of August. This indicator declined to 47.6 from 49.3 in July, the tenth successive month-on-month decrease, and is the lowest since March 2009.

Moreover, Chinese companies are struggling to get paid. Machinery makers in China are reporting a 17.29% Y/Y increase in money owed to them (accounts receivable) while coal miners are reporting a 48.7% increase and steel industries are reporting a 20% increase.

Stocks: CYB, DSUM, GXC, PEK