scorecardresearchAsia shares off to sluggish start, China data soft

Asia shares off to sluggish start, China data soft

Updated: 01 Aug 2022, 08:17 AM IST
TL;DR.
China's factory activity actually contracted in July as fresh virus flare-ups weighed on demand. The official manufacturing purchasing managers' Index (PMI) fell to 49.0 in July, missing forecasts for 50.4.
A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index in Hong Kong, Friday, July 29, 2022. Asian shares mostly rose Friday, following a broad rally on Wall Street as investors grew more optimistic that the U.S. Federal Reserve may temper its aggressive interest rate hikes aimed at taming inflation. (AP Photo/Kin Cheung)

A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index in Hong Kong, Friday, July 29, 2022. Asian shares mostly rose Friday, following a broad rally on Wall Street as investors grew more optimistic that the U.S. Federal Reserve may temper its aggressive interest rate hikes aimed at taming inflation. (AP Photo/Kin Cheung)