Seeking Alpha

More on China services PMI

  • The reading of 55.4 represents a six-month high and contrasts with lower-than-expected manufacturing PMI surveys.
  • The gauges for new orders, retail spending and the logistics industry index grew, while tourist numbers for this week's Chinese holiday increased as well.
  • "The rising service PMI suggests that the recovery in Q313 was quite broad based," says Bank of America's Lu Ting. The "robust" service sector indicates that the chances of a hard landing are low. (previous)
  • The services PMI has helped boost sentiment in Hong Kong (EWH), where the Hang Seng is +0.8%.
  • China ETFs - Stocks: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYP, HAO, ECNS. Bonds: DSUM, CHLC. Currency: CNY, CYB, FXCH
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