I released the official Chinese PMIs over the weekend:
These come from the Chinese National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP).
Today we get the private survey manufacturing PMI from China. These are different surveys, there is a greater representation of large firms and SEOs in the official PMIs.
Although today’s PMI is likely to show another restrictive reading, this will be widely scrutinized. China is experiencing an explosive wave of COVID-19 infections with the rapid reopening moves. The wave will pass.
The main exchange centers are reopening today in Asia. On Monday January 2, markets in Japan, Singapore, Hong Kong, Australia and New Zealand were all closed. China was also absent on Monday.
Europe/UK and US will also reopen later on Tuesday.
Happy New Year everyone !