Asia Pacific stocks mixed; private survey of Chinese manufacturing activity ahead
Stocks in Asia Pacific traded mixed Tuesday morning as investors await the release of a private survey of Chinese manufacturing activity in August.
In Japan, the Nikkei 225 shed 0.14% while the Topix index also declined 0.29%. South Korea’s Kospi, on the other hand, advanced 0.73%.
The S&P/ASX 200 in Australia slipped 0.65%.
Overall, the MSCI Asia ex-Japan index traded fractionally higher.
On the economic data front, the Caixin/Markit manufacturing Purchasing Managers’ index (PMI) for August is set to be out at around 9:45 a.m. HK/SIN on Tuesday. On Monday, China’s official manufacturing PMI for August came in at 51.0, according to the country’s National Bureau of Statistics.
PMI readings above 50 signify expansion, while those below that figure indicate contraction. PMI readings are sequential and indicate on-month expansion or contraction.
Meanwhile, the Reserve Bank of Australia is also set to announce its interest rate decision at about 12:30 p.m. HK/SIN on Tuesday.
Reference: CNBC
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