Official China PMIs point to flattening - ACY Securities Daily Report

Join Clifford Bennett, ACY Securities Chief Economist, as he looks at the global markets from an in-depth perspective.

Australia breaks higher

Afterpay shock drives all tech stocks and overall market higher

China moving to new normal.

China Services PMI

Remains in expansionary territory, but there is a clear trend toward moderation. This is all part of that global rolling-over of economic data we forecast well in advance and is now inescapable in its consistency.

The peak in the global recovery story has already been seen some time ago, and the world is barely back to pre-covid levels.

China Manufacturing PMI

Manufacturing has slowed significantly and is only treading water for the moment.

The Australian market has started the week with a burst to the upside, but there are reasonable doubts over the sustainability of the move. Given the catalyst that is Afterpay. A very left-field event to be sure.



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