Asian markets react to poor Chinese manufacturing data
Chinese manufacturing data released today was down at 47 against market expectations of 47.5. The latest figure indicates a continued contraction within the Chinese manufacturing sector to levels not seen for six and a half years. The Shanghai market shed as much as 1.5% off the announcement. This will likely weigh on the FED’s decision to potentially normalise US interest rates towards the end of this year. TAM has select exposure to the Asian market in quality securities, whilst we remain confident these investments will hold their value we will continue to remain vigilant.