0242 GMT [Dow Jones] The HSBC preliminary PMI for July rose to 49.5
from 48.2 in June, likely easing market fears that the country is
headed towards a hard landing. The reading remains below the key
expansionary threshold of 50, but it is still the highest reading
since February. The official PMI, due August 1, which is watched more
closely by policymakers and China's domestic market, is likely to come
in higher, as it has trended stronger over the last several months.
(aaron.back@dowjones.com)
Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com
(END) Dow Jones Newswires
July 23, 2012 22:42 ET (02:42 GMT)
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