GLOBAL ECONOMY-China and Asia on shaky ground as factories step back in July *Factory activity in Taiwan, South Korea and Indonesia also weak. *UK, Europe, US PMIs due later in the day. Similar business activity surveys for Taiwan, South Korea and Indonesia- all heavily reliant on Chinese demand- reflected varying degrees of weakness that is clouding hopes for a convincing global recovery in the second half of the year.
UPDATE 2-Weaker China factories argue for more policy support as stocks swoon BEIJING, Aug 3- China's factory activity shrank more than initially estimated in July, contracting the most in two years as new orders fell and dashing hopes that the world's second-largest economy may be steadying, a private survey showed on Monday. Fears of a full-blown market crash have added a new sense of urgency for policymakers in Beijing, with many...
Europe seen mixed on shaky China data European equities are expected to open in mixed territory on Monday as investor sentiment is hit by weak manufacturing data from China.
| By: Holly Ellyatt
METALS-Copper slips as China factories shudder MELBOURNE, Aug 3- London copper slipped on Monday on jitters over China's economic health, after factory growth stuttered in July and a central bank official said downward pressure on the economy would persist into the second half. A private survey on Monday showed China's factory activity contracted by the most in two years as new orders fell, dashing hopes...
| By: Melanie Burton
The key takeaway from China's PMI data Daryl Liew, head of portfolio management at REYL Singapore, says the disappointing Caixin China purchasing managers' index is indicative of a slower global economy.
GLOBAL MARKETS-Asian stocks near 2015 lows on China economy worry, dollar strong HONG KONG, Aug 3- An index of Asian shares outside Japan fell close to this year's lows thanks to a deepening selloff in commodities and concerns over slowing growth in China, while the dollar held its ground against a basket of currencies. "We believe the stock market panic in early July chilled economic activity, which is what the manufacturing PMIs picked up," ING...
| By: Saikat Chatterjee