Pessimism Manufacturing Sector Burden Hang Seng and Shanghai Composite

The weakening of stocks in China deepened over domestic businesses more pessimistic than the analysts in assessing conditions in the manufacturing sector this month. China's manufacturing index made Caixin Media and Markit Economics fell to 47.1, its lowest level of 6.5 years, worse than the 47.7 expected by analysts polled by Reuters. Stock investors assess this report be other evidence that China's economic slowdown is getting worse.

Financial shares fell sekgtor reflecting investor concerns on the financial condition of China and dominate the Hang Seng Index. Shares of Bank of East Asia fell 3.47% followed by a 3.3% decline in shares of Hong Kong Exchanges and Clearing. The energy sector also added to the pressure on the index with China Petroleum & Chemical shares fell 3.1% with a 3% drop in shares of Kunlun Energy.

At 9:30 am, the Shanghai Composite Index is still trading in the negative area from -1.5% -0.8% at the opening becomes. Similarly, the Hang Seng index futures opened down 1.6% now trading at 22 272, down 1.75%.