Asia-Pacific stocks little changed as investors await China’s official manufacturing activity data
Stocks in Asia-Pacific saw muted moves in Monday trade as investors await the release of China’s official manufacturing Purchasing Managers’ Index (PMI).
In Japan, the Nikkei 225 advanced 0.4% in early trade while the Topix index dipped 0.13%. South Korea’s Kospi was fractionally higher.
Meanwhile, shares in Australia were little changed, as the S&P/ASX 200 sat on the flatline.
MSCI’s broadest index of Asia-Pacific shares outside Japan was flat.
Markets will be monitoring shares of HSBC in Hong Kong following a Financial Times report that the bank is considering an exit from U.S. retail banking.
On the economic data front, Japan’s retail sales rose 6.4% year-on-year in October, according to a preliminary report by the country’s Ministry of Economy, Trade and Industry. The data was in line with a median market forecast, according to Reuters.
Looking ahead, China is set to announce its official manufacturing PMI for November at around 9:00 a.m. HK/SIN.
Markets in India are closed on Monday for a holiday.
Reference: CNBC
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