The China data can be read as a mixed bag for gold and silver.
More China data is coming out on Friday, including fixed asset investment and retail sales.
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However, the weekend China data also showed bank lending growth weaker than expected in September.
The China data showed that factory activity contracted for the first time in seventh months in May.
Only a handful of Chinese employees at Komatsu's 100%-owned Shanghai affiliate have access to sensitive China data.
Many are hoping the China data will show improvement following the recent monetary stimulus measures from the Chinese central bank.
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Nevertheless, hard landing or soft landing, China data added to concerns that Asian growth is slowing more sharply than had previously been feared.
Asian and European stocks showed mixed reactions to the China data, as European stocks were somewhat supported while Asian stocks were narrowly mixed.
In Sydney, the disappointing China data landed hard on resources stocks.
Asian stock markets fell on the China news, while raw commodity markets, including gold and silver, were also seeing some selling pressure on the weak China data.
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Asian stock markets fell on the China news, while raw commodity markets, including gold and silver, also saw some selling pressure due to the weak China data.
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In Sydney, the disappointing China data hit resources stocks.
The weak China manufacturing data and the yen's rebound hit exporters in Tokyo.
Focus of the market place now turns to the U.S. employment report due out Friday morning, and China manufacturing data due out Thursday.
An industry group in China released data Wednesday showing that manufacturing grew at a slower pace in April and export orders had been declining steadily.
China released data Thursday showing a smaller-than-expected trade surplus in September, which will likely take some pressure off Beijing to let the yuan rise faster, the Wall Street Journal reported from Shanghai Thursday.
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Global investors, including U.S. institutional investors, submitted bids totaling more than four times the debt on offer, underscoring confidence in China despite data released Monday showing that its economy slowed unexpectedly in the first quarter of the year.
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The immediate reason seemed to be general disappointment about new China manufacturing data, but some are already wondering if financial market players are getting nervous about the resolve of the Bank of Japan and its governor, Haruhiko Kuroda, in sustaining serious monetary measures to boost the Japanese economy.
Just take a look at the stock of large US export companies after China released data that showed a slow down in their economies last week: Toyota Motor Company (NYSE:TM) down 1.92%, Honda (NYSE:HMC) down 2.12%, GM (NYSE:GM) down 2.09%, Ford (NYSE:F) down 1.24%, Caterpillar (NYSE:CAT) down 0.52%, Sony Corporation (NYSE:SNE) down 7.30%, Microsoft (NASDAQ:MSFT) down .20%, Intel (NASDAQ:INTC) down 1.37%, Apple (NASDAQ: AAPL) down 2.82%, Cisco Systems (NASDAQ: CSCO) down 1.21 %, and 3M (NYSE:MMM) down 1.35 percent.
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Over the weekend, China will deliver data on inflation, industrial output and retail sales.
The better China and German data gave a boost to the raw commodity sector, including the precious metals.
China released customs data for September showing higher imports of commodities in general, and record imports of crude oil in particular.
China's data on exports have been under scrutiny since some analysts pointed out last year that they failed to match up with its trading partners' lower figures for their purchases of Chinese goods.
The markets took some solace from a major beat out of China on export data (while not liking inflation readings), the prospect of further stimulus out of Japan, and had some mixed reaction to what were meant to be encouraging comments out of Mario Draghi and the ECB.
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The next major data point scheduled to come out in Asia is China's preliminary manufacturing data for March, out on Thursday.
In 2000 Equant approached the state-owned China Netcom and agreed to teach it how to build a national data network for China.
Certainly companies would not outsource customer data processing to China-based providers if there were a prohibition on having such data returned to them.
There will be some key economic data from China released on Wednesday and Thursday.
Helping kick off the selling was data showing China's economy expanded 7.7% in the first quarter.
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