Strong China flash PMI ends doubts of growth stabilisation

HONG KONG- The HSBC flash manufacturing PMI for August rose to 50.1 (consensus: 48.2; July: 47.7), its first +50 reading since May. The out-turn (while not yet final) brings the HSBC PMI more into line with the official PMI for July, which had previously ticked up to 50.3. It is also in line with strong July activity indicators .