The Traderszone Network

Published in TZ Latest News 3 May, 2015 by The TZ Newswire Staff

Asia shares falter, Aussie dollar hit on soft China PMI

Asian share markets stumbled on Monday and the Australian dollar took a hit after disappointing news on Chinese manufacturing underlined the need for further policy stimulus in the world’s second biggest economy. “China’s manufacturing sector had a weak start to Q2, with total new business declining at the quickest rate in a year while production stagnated,” said Annabel Fiddes, an economist at Markit. The Australian dollar, often used as a proxy for China risk, fell a quick 20 ticks to $0.7812, though upbeat data at home helped put a floor under it.