An index based on a nationwide survey of business executives conducted for HSBC (dropped) to 49.4 from 50.4 in June, while one compiled by China' statistics bureau fell to a 17-month low of 51.2 from 52.1 in June.
With surveys still seen fitting a scenario of a controlled (slowdown) resulting from government efforts to prevent overheating, (financial) markets took the data in stride.
The Japanese yen and Australian dollar (barely) budged, while an index of Asian stocks outside Japan edged up following the report.