China’s factory activity surprisingly shrank in March, a private survey showed on Wednesday.
The HSBC flash Purchasing Managers’ Index fell to 49.2, an 11-month low, from a final reading of 50.7 in February, well below the boom-bust level of 50. A Reuters forecast expected a 50.6 print.
China’s Shanghai Composite widened losses to 0.3 percent on the back of the data. The Australian dollar extended losses to $0.7849 from $0.7865 against the U.S. dollar.