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A closely-watched measure shows that Chinese manufacturing defied expectations by expanding in the past month. The HSBC manufacturing PMI rose to 50.5 despite analyst1 predictions it will fall to the breakeven level of 50. The index provided a boost for the Australian Dollar and the local share market. While the headline figure is good, concerns remain about the declining size of the sector's workforce2.
And that data helps calm investor3 nerves today and helped push the Australian share market higher recovering most of yesterday's deep losses. Banks led the way:
The All Ordinary Index jumped 0.9 percent or 48-point. The ASX 200 Index up 1 percent.
Most of the miners managed gains by the close:
NHP Billiton and Rio Tinto edged higher. Fortescue Metals gained over 2 percent. The smaller players like Atlas4 Iron remain under pressure. Gold miners like Newcrest surged.
Turning across the region:
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1 analyst | |
n.分析家,化验员;心理分析学家 | |
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2 workforce | |
n.劳动大军,劳动力 | |
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3 investor | |
n.投资者,投资人 | |
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4 atlas | |
n.地图册,图表集 | |
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5 rebounded | |
弹回( rebound的过去式和过去分词 ); 反弹; 产生反作用; 未能奏效 | |
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