Chinese manufacturing activity contracted in January, according to a report by the China Federation of Logistics and Purchasing and the National Bureau of Statistics on Saturday. The manufacturing Purchasing Manager's Index (PMI) fell from 50.1 in December to 49.3, below expectations. The non-manufacturing PMI also dipped under the no-change 50-point line. It declined from 50.2 in December to 49.4 in January. (full story)