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Analysts at TD Securities are expecting a further stabilisation in Chinese manufacturing confidence, albeit at a weak level, with the PMI likely to edge higher to 49.7.

Key Quotes

“We. Government stimulus measures taken together with ongoing hopes of a trade deal will likely have contributed but unfortunately pressure on the sector remains as global growth weakens.”

“Forward looking components of the Jan PMI such as backlog of orders and new orders point to sustained pressure on the manufacturing sector.”