Major markets in Asia mostly declined in Monday morning trade as official Chinese manufacturing data released over the weekend came in much worse than expected.
China's official Manufacturing Purchasing Managers' Index for February tumbled down to 35.7 points, the lowest on record and well beneath 45 expected. Any score below 50 represents contraction. The figure stood at 50 in January. The coronavirus outbreak paralyzed many factories in the Hubei province and beyond.
China's February factory PMI seen at lowest since 2009 as coronavirus slams production: Reuters poll
BEIJING (Reuters) - Activity in China's vast manufacturing sector likely shrank at the fastest pace since the global financial crisis in February as the coronavirus suspended large movements of goods and people in most parts of the country.
TOKYO (Reuters) - Global share markets were headed for the worst week since the depths of the 2008 financial crisis as investors ditched risky assets on fears the coronavirus would become a pandemic and derail economic growth.
GENEVA/BEIJING (Reuters) - Hopes the coronavirus would be contained to China vanished on Friday as infections spread rapidly around the world, countries started stockpiling medical equipment and investors took flight in expectation of a global recession.
Car sales in China fell 18.7 per cent in January, more than expected and marking the industry’s 19th consecutive month of sales decline, data from the country’s biggest auto industry association showed on Wednesday.