Asian markets slide on more weak Chinese data

Shares across Asia fell on Thursday after latest Chinese manufacturing data came in at a seven-month low.

The reading of HSBC's preliminary manufacturing purchasing managers index for February was 48.3, down from 49.5 in the previous month. A score below 50 indicates a contraction in factory activity. As a result, Hong Kong's Hang Seng index slid 1.1% to 22,412, while the news also affected the Australian dollar and the Japanese yen. Australian dollar fell to $0.8952 from $0.9002, and the yen strengthened against the US dollar, with the dollar falling below the 102 yen mark, signalling increased risk aversion among investors. In turn, the stronger yen had a negative impact on the Nikke...