China manufacturing shrank again in January, HSBC data shows

British banking giant HSBC said a preliminary reading of its purchasing managers' index (PMI) showed it had edged up to a final reading of 49.7 last month, from 49.6 in December. The result was also slightly worse than the preliminary reading for the month of 49.8, HSBC said. The index, compiled by information services provider Markit, tracks activity in China's factories and workshops and is a closely watched indicator of the health of the Asian economic giant. The figure came an offi