Global Stock Markets Decline Amid Weak China Data

Global stock markets fell on Monday, driven by disappointing economic data from China, where the manufacturing sector contracted for the fourth consecutive month, with the Purchasing Managers' Index (PMI) dropping to 49.1. This decline has raised concerns over China's economic health, particularly affecting luxury brands, as seen with Burberry and Kering experiencing significant share losses. Investor sentiment is also influenced by the anticipation of potential US interest rate cuts, with the Federal Reserve's stance being closely monitored. Emerging markets also reflected these trends, with the MSCI index dipping 0.3%, as major Chinese companies like Alibaba and Tencent saw declines. While a recent Caixin manufacturing report showed a slight improvement, it was not enough to offset the prevailing negative sentiment. As September is typically a volatile month for markets, investors are bracing for upcoming US jobs data that may impact the pace of interest rate adjustments.