Euro jumped as deflation risks moderated and Greece has sent a comprehensive plan for the emergency meeting with Germany, France and the Troika. Stock markets, however, softened with the Stoxx600 index losing -1% as yields soared. Wall Street also lost ground with the DJIA and the S&P 500 indices dropping -0.16% and -0.1% respectively.
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Euro Jumped on Eased Deflationary Risks
The Asia session starts with releases of Chinese factory data. The official manufacturing PMI climbed +0.1 point to 50.2, the highest level in 6 months, in May from April’s 50.1, in line with expectations The non-manufacturing PMI fell to 53.2, the lowest since December 2008, from 53.4 in April. Meanwhile, the final reading of HSBC/Markit PMI edged up to 49.2 in May, up modestly from the preliminary reading of 49.1 and April’s 48.9.
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Headline PMI Supported Chinese Shares