By Tom Westbrook and Dhara Ranasinghe SINGAPORE/LONDON (Reuters) - Investors looking for clues about the state of China's economy beyond official data ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSSINGAPORE/LONDON - Investors looking for clues about the state of China's economy beyond official data are seeing red warnings flash across a range of informal gauges, prompting many to back out of global assets exposed to the slowdown.
Beneath the headlines, investors are even gloomier with higher-frequency and more arcane data from a shrinking current account surplus to ballooning deposits and soft surveys pointing to a deep-seated confidence problem. His fund invests in China, but away from economically sensitive sectors such as banks, property or industrials.
Last week BHP Group posted its weakest annual profit in three years and manganese-focused spinoff South32 said profit fell by nearly two thirds. New Zealand's a2 Milk Co warned of weak growth in China's infant formula market.Seema Shah, chief global strategist at Principal Global Investors in London, sees the slowdown biting in Europe, where investors tend to connect the fortunes of German manufacturers with the those of their Chinese customers.
Even in Japan, the stock market success story of the year so far, portfolio manager Zuhair Khan at UBP Investments says he's shorting or avoiding companies reliant on China sales.
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