Emerging Stocks Fall to One-Month Low on China Factory Data - Bloomberg

Emerging Stocks Fall to One-Month Low on China Factory Data - Bloomberg:

"Emerging-market stocks dropped, dragging the benchmark gauge to a one-month low, after a survey showed Chinese manufacturing expanded less than estimated and investors weighed the timing of a cut in U.S. stimulus.

SAIC Motor Corp. (600104) sank 5.2 percent in Shanghai to lead losses for Chinese automakers as the city of Tianjin said it would limit issuance of car license plates. Wumart Stores Inc. (1025) tumbled to a four-year low in Hong Kong after saying plans to buy stores from CP Lotus Corp. (121) won’t proceed. Malaysia’s ringgit and the Thai baht rose 0.1 percent versus the dollar.

The MSCI Emerging Markets Index slid 0.2 percent to 988.94 as of 1:34 p.m. in Hong Kong, its fifth day of declines. A Chinese manufacturing index unexpectedly fell to a three-month low, suggesting the world’s second-largest economy is vulnerable to a slowdown. The Federal Reserve may begin reducing its $85 billion of monthly bond purchases at its Dec. 17-18 meeting, according to 34 percent of economists in a Dec. 6 Bloomberg survey, up from 17 percent in a Nov. 8 poll."

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