Shares in Asia-Pacific were higher in Tuesday morning trade, as investors await the release of a private survey on Chinese manufacturing activity in May.
Japan’s Nikkei 225 rose 0.65% in early trade while the Topix index gained 0.5% South Korea’s Kospi edged 0.23% higher.
Shares in Australia were little changed, with the S&P/ASX 200 hovering above the flatline. The Reserve Bank of Australia is set to announce its interest rate decision at 12:30 p.m. HK/SIN on Tuesday.
MSCi’s broadest index of Asia-Pacific shares outside Japan traded 0.1% higher.
Investors will watch for reaction in Malaysian stocks after the country’s prime minister on Monday announced an additional 40 billion ringgit (about $9.7 billion) stimulus package, just hours before stricter lockdown measures to curb the Covid spread in the country were set to kick in.
China economic data watch
On the economic data front, the Caixin/Markit manufacturing Purchasing Managers’ Index (PMI) for May is expected to be released at 9:45 a.m. HK/SIN on Tuesday.
The official manufacturing PMI for May, released Monday, came in 51.0 — slightly lower than analyst expectations for a reading of 51.1 in a Reuters poll.
Reference: CNBC
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