Here Comes HSBC's China Manufacturing PMI...

HSBC's China manufacturing PMI report for August is set to be released at 9:45 pm ET.

Expectations are for the reading to come in at 50.3, unchanged from the "flash" reading reported earlier this month.

A reading above 50 indicates expansion in the economy, while a reading under 50 would indicate contraction.

HSBC's manufacturing reading on China also follows official data released by China's National Bureau of Statistics earlier this evening, which showed that manufacturing slowed in August to 51.1. The official state reading was also slightly below the 51.2 expected by economists.

Credit Agricole's Daruisz Kowalczyk expects the HSBC report to hold steady from the "very low level" last month.

Kowalczyk added that, "The data will highlight renewed downward pressure on the Chinese economy emerging in the summer, but it should also prompt more policy easing measures from Beijing, and is therefore going to have only a limited negative impact on market sentiment."

We'll be back with the live numbers when they hit.