China’s Stocks Fall Most in Two Weeks on Manufacturing, Minsheng

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China™s stocks fell the most in two weeks after an official manufacturing gauge signaled the first contraction in more than two years and China Minsheng Banking Corp.™s President Mao Xiaofeng resigned.

China Minsheng led declines for financial companies, sliding 4.5 percent after Caixin reported that Mao is being investigated by authorities. China Railway Construction Corp. and Air China Ltd. dropped more than 4 percent after the government™s Purchasing Managers™ Index declined to 49.8 last month from 50.1 in December. The nation™s benchmark money-market rates jumped for a fourth day after the securities regulator approved 24 initial public offerings.

The Shanghai Composite Index slid 1.9 percent to 3,147.99 at 9:37 a.m. The gauge has fallen 6.8 percent over the past five days as the government stepped up scrutiny of margin lending, while the factory data add to concern the economy is weakening.

The CSI 300 Index slid 1.9 percent. Hong Kong™s Hang Seng China Enterprises Index fell 1.4 percent, while the Hang Seng Index dropped 0.4 percent. The Bloomberg China-US Equity Index, the measure of the most-traded U.S.-listed Chinese companies, retreated 1.6 percent in New York on Jan. 30.

China™s outstanding margin debt dropped for the first time in eight days on Jan. 30 in Shanghai, according to data from the city™s bourse. It fell 0.5 percent to 773.98 billion yuan ($123 billion) from a record 777.6 billion yuan on Jan. 29.

The government™s PMI missed the median estimate of 50.2 in a Bloomberg survey of analysts and was below the 50 level separating expansion and contraction.

Source : Bloomberg

China’s Stock-Index Futures Fall on PMI Contraction, Minsheng

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China™s stock-index futures fell after an official manufacturing gauge signaled the first contraction in more than two years and China Minsheng Banking Corp. President Mao Xiaofeng resigned amid a media report that he is being investigated by authorities.

Futures on the CSI 300 Index expiring in February declined 2.5 percent to 3,370 as of 9:17 a.m. The Shanghai Composite Index slid 1.6 percent to 3,210.36 on Jan. 30, extending last week™s loss to 4.2 percent, the most since December 2013, amid concern regulatory scrutiny of margin lending and tepid economic growth will curb the benchmark index™s world-beating rally.

China™s outstanding margin debt dropped for the first time in eight days on Jan. 30 in Shanghai, according to data from the city™s bourse. It dropped 0.5 percent to 773.98 billion yuan ($123 billion) from a record 777.6 billion yuan on Jan. 29.

Hong Kong™s Hang Seng China Enterprises Index fell 0.1 percent on Jan. 30, taking last week™s decline to 4.4 percent. The CSI 300 Index slipped 1.4 percent, while the Hang Seng Index dropped 0.4 percent. The Bloomberg China-US Equity Index, the measure of the most-traded U.S.-listed Chinese companies, retreated 1.6 percent in New York.

The government™s Purchasing Managers™ Index fell to 49.8 last month from 50.1 in December, missing the median estimate of 50.2 in a Bloomberg survey of analysts and below the 50 level separating expansion and contraction.

Source: Bloomberg

Asian Stocks Drop With Oil as Yen Gains; Australian Bonds Climb

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Asian stocks fell, led by Japanese shares, while the yen strengthened as data on Chinese manufacturing and the U.S. economy inflamed concern over the global slowdown. Crude oil and copper retreated as Australian bonds climbed.

The MSCI Asia Pacific Index lost 0.4 percent in a fourth day of declines by 9:49 a.m. in Tokyo, as Japan™s Topix index slipped 1 percent. Standard & Poors 500 Index futures rose 0.1 percent. The yen, regarded as a haven by some investors, touched its strongest level since Jan. 16, while Korea™s won slipped. U.S. oil dropped 2.3 percent after surging at the end of last week, while copper futures lost 0.8 percent and gold retreated. Australian bond yields slid to records and the Aussie was near a 5 1/2-year low before an interest-rate review on Tuesday.

Source: Bloomberg

Gold Holds Biggest Monthly Climb Since 2012 Amid Growth Concern

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Gold held the biggest monthly gain in three years as data from China and the U.S. that missed estimates added to signs the global economy is faltering, supporting demand for haven assets.

Bullion for immediate delivery traded at $1,281.18 an ounce at 9:50 a.m. in Singapore from $1,283.79 on Jan. 30, when prices completed an 8.4 percent monthly advance for the best start to a year since 2012, according to Bloomberg generic pricing. The metal climbed on Jan. 22 to a five-month high of $1,307.62.

Gold posted the first back-to-back monthly advance in January in a year as assets in exchange-traded products jumped 4.1 percent, the most since July 2011. Data this week may show employers in the U.S. continued to add workers in January, while manufacturing probably moderated. Greek Prime Minister Alexis Tsipras, in office for about a week, is seeking a new deal with the government™s creditors amid concern that failure to reach an agreement may spur the country to quit the euro.

Source: Bloomberg

Yen Strengthens as Growth Outlook Weakens From U.S. to China

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The yen rose, adding to its best monthly gain in a year, as weaker-than-expected data for China and the U.S. underscored concerns that the world economy is stumbling.

Japan™s currency, often regarded by investors as a haven amid market turmoil, advanced for a second day against the dollar after a report Friday showed the U.S. economy expanded at a slower pace than forecast in the fourth quarter. Australia™s dollar traded 0.6 percent from a 5 1/2-year low as traders bet the Reserve Bank will cut interest rates on Tuesday after a gauge of China™s manufacturing sector unexpectedly signaled contraction. The New Zealand dollar held a three-day decline.

The yen gained 0.3 percent to 117.20 per dollar as of 8:33 a.m. in Tokyo from Jan. 30, when it added 0.7 percent. It rose 0.2 percent to 132.44 against the euro. The single currency advanced 0.1 percent to $1.1301.

The Aussie strengthened 0.1 percent to 77.72 U.S. cents. It reached 77.20 cents on Jan. 29, the weakest since July 2009. The New Zealand dollar was at 72.58 U.S. cents from 72.61.

China™s official purchasing managers™ index slid into contraction territory for the first time in more than two years, data over the weekend showed.

That followed a U.S. report Friday that showed gross domestic product rose an annualized 2.6 percent in the fourth quarter, trailing the 3 percent growth estimated by economists and falling from 5 percent in the three months ended September.

Source: Bloomberg