China's manufacturing PMI contracts for second month in a row, more pain expected for global markets heading into September and October, which are usually down months.
China Composite PMI: 51.7 vs. 52.3 consensus, +52.5 prior.
Manufacturing PMI: 49.4 vs. +49.2 consensus, 49.0 prior.
Non-Manufacturing PMI: 52.6 vs. 53.8.
China's manufacturing sector continues to shrink for the second month amid a resurgence of COVID-19 cases, new lockdowns in some cities, and power rationing due to the worst heatwaves in decades.
My personal investing plan is to add companies that are dealing with cloud and software, and reduce exposure to companies that sell products that are discretionary in this high inflation environment.
$S&P 500(.SPX)$
$CSI China Internet ETF(KWEB)$
$China A50 Index - main 2209(CNmain)$
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