Markets across Asia have witnessed a significant downturn in performance today (2 November 2015) in the wake of the latest negative production data to be published in China.
The Chinese Purchasing Managers' Index (PMI) score for October was announced at the weekend, with a total of 48.3 denoting a third consecutive month of contraction in Chinese manufacturing output.
It did mark an upturn in performance from September, when a PMI value of 47.2 was recorded, but these latest figures now highlight a full quarter of reduction in manufacturing levels for China and it is therefore leading to growing concerns of a sustained downturn that could spread to other major markets in the region.
The news comes as a shock to investors, as many analysts had predicted the PMI score would rise above 50 (denoting growth across the sector) at the start of the fourth quarter. However, this was simply not to be.
Across the region, markets have responded in a negative fashion to this latest poor production news from what is the world's largest manufacturing nation.
In the wake of the publication of the data, the Shanghai Composite Index fell by 1.66% on Monday; but this was not the largest downturn registered in major Asian indices, with the Japanese Nikkei Stock Average 225 down by 2.1%.
Elsewhere, Hong Kong's Hang Seng Index was down by 1.19% in its latest full trading session, while the Australian ASX All Ordinaries Index reported a loss of 1.27%.