China's flash PMI for November eases as export orders drop

CHINA'S manufacturing activity slowed this month as a result of lower-than-expected export orders, a preliminary survey showed. HSBC/Markit's flash PMI eased to 50.4, from last month's 50.9. The result was also well below the government's version of the PMI, which hit 51.4 last month.

Among the sub-indexes, new export orders fell under the 50 mark, pointing to a fragile global recovery, while employment also decreased. Overall new orders rose but at a slower rate than last month, suggesting that internal demand was still not strong enough to support growth. A reading above 50 indicates expansion while anything below signals contraction.

Markets responded negatively to the data with shares falling in Hong Kong and Shanghai.