gse - are we talking about the HSBC china PMI index... from macrobusiness
"Risk turned sour in Asia as investors reacted to the disappointing China HSBC manufacturing PMI reading for February. The reading came in at 48.3 which was well below expectations of a flat 49.5. This was a seven-month low for this reading and the employment sub-index came in at 46.9, its lowest level since February 2009. New orders and production fell sharply, while new export orders were marginally higher. This move deeper into contractionary territory is not what the market wanted to see at a time when sentiment is growing increasingly fragile."
