MARKET COMMENT: S&P/ASX 200 Remains Down 0.5% After China PMI
February 28 2013 - 8:56PM
Dow Jones News
0125 GMT [Dow Jones] Australia's S&P/ASX 200 remains down
0.5% at 5078 after China's official manufacturing PMI for February
came in at 50.1, below the 50.4 reading for January, yet near
enough to the 50.5 level expected by the market. Still, the fall
could renew concerns about momentum in the world's second-largest
economy, after growth began rebounding in the fourth quarter last
year. Resources are still weighing on the market, with BHP
(BHP.AU), Rio Tinto (RIO.AU), Newcrest (NCM.AU) and Woodside
(WPL.AU) down 0.8%-3.4%. Banks are outperofrming, with CBA
(CBA.AU), NAB (NAB.AU) and Westpac (WBC.AU) up 0.2%-0.7%. HSBC's
final PMI is due at 0145 GMT. (david.rogers1@wsj.com)
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