Shares of Asia Pacific were mixed on Tuesday morning as a private survey showed that Chinese manufacturing activity in August has been expanding at its pace for almost 10 years.
Mainland Chinese stocks fell, while the Shanghai Composite fell 0.16% while the Shenzhen component fell 0.448%. Hong Kong’s Hang Seng Index rose 0.13%.
The move came after the Moxin / Market Manufacturing Purchasing Managers Index (PMI) hit a low of 53.1 in the last month. According to the country’s National Bureau of Statistics, China’s official manufacturing PMI for August fell to 51.0 on Monday.
The release of economic data from China has been monitored by investors for signs of the country’s recovery from the coronavirus epidemic. A PMI reading above 50 indicates an expansion, while those figures indicate a contraction below. PMI readings are sequential and indicate an extension or contraction of the month.
Elsewhere, the S&P / ASX 200 in Australia led to losses in the region’s major markets as it fell 1.63%.
In Japan, the Nikkei 225 is down 0.16% while the Topics Index is down 0.12%. South Korea’s Kospi gained 0.91%.
Overall, the former Japan Index of MSCI Asia traded 0.25% higher.
Looking ahead, the Reserve Bank of Australia will announce its interest rate decision on HK / SIN on Tuesday at 12:30 p.m. Ahead of that decision, the Australian Australian dollar rose from yesterday’s level of 0.735 to the level of લ 0.7398.
Overnight the Stateside, S&P 500 and Dow Jones Industrial Average wrapped up their best August performance in decades. The Dow fell 223.82 points, or 0.8%, to close at 28,430.05 and the S&P 500 closed 0.2% lower at 3,500.31 to end its trading day on Wall Street. The Nasdaq Composite rose 0.7% and ended the trading day at 11,775.46.
Monday’s move to Dow August.6. The remaining percentage is the biggest gain of that month since 1984. The S&P 500 rose %% in the same month, marking August’s best performance since 1986.
The American Dollar Index, which tracks Greenback in front of a basket of its peers, is the previous one.
The Japanese yen traded at 105.70 against the dollar after seeing a high of 105.5 against the greenback yesterday.
Oil prices were higher in Asian trading hours, with international benchmark Brent crude futures rising 0.71% to 45.60 a barrel. US crude futures also rose 0.68%. 42.90 to 90 lbs per barrel.
What’s on the tap:
- Australia: The Reserve Bank of Australia (RBA) has announced an interest rate decision for Australia at 12:30 pm. / S.I.N.
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