Market Sentiment Dampened on Concerns over Chinese and US Data

Weak market sentiment on Friday was carried forward to Asian session today, sending Hong Kong's Hang Seng Index -2.32% and Japan's Nikkei -0.98% lower. China's CSI300 Index has dropped -2.55% at the time of writing. The first issue dampening confidence was China's newly renamed Caixin PMI which fell -1.2 points to 48.2 in July, the lowest reading in 15 months. The disappointment was followed by the Fed's release of confidential staff economic projections prepared for its June meeting.

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