China’s manufacturing decline triggers sharp decline in Asian stock markets; Hang Seng suffers
Recent data showing a significant decline in Chinese manufacturing activity, which hit a six-month low, led to widespread losses in Asian stock markets. The Hang Seng Index in particular took a hit, with real estate stocks dragging the index lower amid growing concerns about economic stability in the region.
The decline in manufacturing output is attributed to weaker demand and ongoing supply chain disruptions, further complicated by the problems in the domestic real estate sector that have continued to put downward pressure on market sentiment. This combination of factors has not only dampened investor confidence, but has also raised alarms about the broader economic outlook for Asia.
Market experts point to these developments as a clear indicator of the fragile nature of the recovery fro...