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As experts in the stock market and trading, we are here to provide you with valuable insights on the latest trends and developments in the world of finance. Today, we are taking a closer look at the IMF growth forecasts and the May PMI takeaways, along with the Hang Seng Index’s reaction to the NBS Manufacturing PMI.
IMF Growth Forecasts and May PMI Takeaways
Recently, the IMF revised its 2024 growth forecast for China, aligning with Beijing’s projection of 5%. This upward revision was attributed to a better-than-expected Q1 2024 and policy measures implemented by Beijing. However, the IMF anticipates growth to slow down to 4.5% in 2025, in line with the April and May NBS PMI numbers which suggest a downward shift in economic momentum.
Looking ahead, the China Caixin Manufacturing PMI is set to be released on June 3, with economists forecasting an increase from 51.4 to 51.5 in May. This data will likely impact market risk sentiment significantly.
The Hang Seng Reaction to the NBS Manufacturing PMI
Prior to the release of the PMI numbers, the Hang Seng Index was up 0.98% to 18,410. Despite the weaker-than-expected numbers, the Hang Seng Index showed resilience and climbed to 18,537, indicating positive market sentiment.
Stay tuned to Extreme Investor Network for more updates and insights on the latest market trends and developments. Remember, knowledge is power when it comes to making informed decisions in the world of finance!