Chinese HSBC PMI slips to 9-month low.

China's HSBC manufacturing PMI, which focuses on smaller firms and exporters, fell to a nine-month low of 48.2 in June from 49.2 in May, as new orders dropped even though producers cut prices. The official manufacturing PMI, which focuses on larger state-owned enterprises, dropped to an expected 50.1 from 50.8. "As Beijing refrains from using stimulus, the on-going growth slowdown is likely to continue in the coming months."