HSBC China PMI for November is out at 8:45 p.m. ET.

Economists polled by Bloomberg are looking for a reading of 50.5, down from a reading of 50.9 the previous month.

A reading below 50 shows that the manufacturing sector is contracting.

We got the official number yesterday, and that showed Chinese manufacturing hold steady at 51.4.

The official survey showed that large enterprises have shown strength while small enterprises continue to struggle, notes Societe Generale's Wei Yao.

This is in keeping with the fact that the HSBC survey, which has a larger exposure to small and medium enterprises, has underperformed the official survey for eight months.

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