Some good news for I/O producers. The latest China manufacturing index came in at 49.7, well ahead of the mean forecast of 48.3 and April's reading of 48.1.
Essentially this means that predictions on the slowdown in China's manufacturing sector (were overly pessimistic. Of course, it has to be mentioned that housing is still slowing and looks like it will slow further which is a minus.
http://www.bloomberg.com/news/2014-05-22/china-manufacturing-gauge-rises-in-sign-of-economy-stabilizing.html
The mega-deal between Russia and China for gas is also good news for I/O producers as it will require a very significant investment in infrastructure needed to distribute the gas. (At the same time it is a very big negative for coal miners and LNG producers.) It also shows that China is serious about attacking pollution by reducing coal usage in favour of gas.
http://www.bloomberg.com/news/2014-05-21/putin-tilts-to-asia-with-400-billion-china-gas-deal.html
good news out of china
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