Here Comes HSBC China PMI...

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

Economists are looking for HSBC PMI to come in at 50.5. This compares with a reading of 50.8 the previous month.

We got China's official PMI data on Tuesday, which showed manufacturing fall to 51, from 51.4 in November. A reading below 50 indicates contraction.

The slowdown in credit growth is said to have weighed on Chinese manufacturing.