Here Comes China's Official Manufacturing PMI...

Expectations are for the report to come in at 51.2 for August, down from 51.7 in July, which marked a 27-month high for the index, according to Barclays.

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

Nomura's Aman Mohunta expects the report to come in a 51.0, writing that, "Despite targeted policy easing it seems that [China's economy] has recently lost some growth momentum, as the property market correction continues."

At 9:45 pm ET, we'll also get HSBC's final manufacturing PMI, which is expected to come in at 50.3, unchanged from the flash number reported earlier this month.

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