Chinese Purchasing Managers' Index,
estimated by HSBC, in November was 49 indicating that factory output and number
of new orders declined. Although the figure is below 50 which indicates contraction, it still is slightly better than October's reading of 47.7,
meaning that contraction is slower than in previous month. China should put
more effort on fiscal and monetary easing, said Qu Hongbin, executive at HSBC's
Asian economics research.