Asian Markets Cautious with Eyes on HK Unrest

Asian markets were in hesitant mood on Tuesday as investors wondered what China’s response would be to civil unrest in Hong Kong, while the U.S. dollar was on track to post its biggest monthly gain in well over a year.

Tens of thousands of pro-democracy protesters blocked Hong Kong streets on Tuesday, in one of the biggest political challenges to Beijing since the Tiananmen Square crackdown 25 years ago.  The unrest was an added complication for investors amid long-standing concerns about the health of China’s economy.

An HSBC survey of manufacturing (PMI) for September disappointed slightly by showing a final reading of 50.2, steady on August but down from its preliminary 50.5.  One bright spot was a measure of new export orders which climbed to a 4-1/2-year-high of 54.5.

Reuters

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