China's economic figures are not good

Updated on 24 January 2014, 10:57 AEST
Compiler: Fang Teng Editor: Ma Jianyuan

The HSBC China Manufacturing Purchasing Managers Index was released in January, and the Asia-Pacific stock markets "fall down". Among them, the Australian stock market lost 1%. The stock markets in Hong Kong, Taipei, the United States, and Europe were mostly negatively affected.

Australian stock market mining stocks fell fastest (Credit: ABC)

On Wall Street in the United States, U.S. stocks fell significantly. The New York Dow Jones Index fell 175 points, the Nazdaq Index fell 24 points, and in Europe, the three major stock indexes also fell. The London Financial Times 100 Index fell 53 points and the Paris CAC Index fell 44 points. .

Yesterday, in Asian stock markets, as the HSBC China Manufacturing Purchasing Managers Index (PMI) fell to a contraction level in January, the Hong Kong Hang Seng Index closed down 1% and the Shanghai Composite Index closed down 1.5%. The Shenzhen Composite Index closed up 0.47%. Taiwan's weighted stock market approached the Lunar New Year holiday, the market sentiment was weakened, coupled with the poor economic figures from the mainland, causing the weighted index to close at a day low, down 0.79%. The Tokyo Nikkei index closed down 0.35%. The Seoul Composite Index closed down 0.8 points.

In Australia, the stock market is also due to the poor manufacturing index from China, causing the two major stock indexes to decline. The All Ordinaries index fell 56 points and closed at 5276. The ASX200 index lost 1% of its market value and closed at 5263. Among them, mining stocks fell the fastest, and banking stocks also underperformed. Since 2014, Australia's banking stocks have been declining slowly, while energy and mining stocks have fluctuated.

Consumer spending in Australia increased by 1.8% last year, but this was mainly due to population growth. Per capita spending was actually the same as a year ago, with little change.

In terms of commodity prices, New York’s March oil futures rose to a nearly 3-month high, closing at $1 a barrel, up 97.32 cents. London Brent oil futures closed at $59 per barrel, up 107.58 cents. International gold prices rose by nearly 69%, the largest single-day percentage increase in three months. New York February gold futures closed at US$2 an ounce, up US$3, or 2%.