The HSBC China flash PMI for July comes in at 48.9, showing contraction for the 1st time in a...

|By:, SA News Editor

The HSBC China flash PMI for July comes in at 48.9, showing contraction for the 1st time in a year, and the lowest reading in 28 months. Assets levered to hot Chinese growth - the Australian dollar and copper to name two - drop sharply on the news. Shanghai -1%.