Asia-Pacific markets traded mixed Tuesday as China’s official reading showed manufacturing activity contracted for a sixth straight month, albeit less than market estimates.
In Japan, the Nikkei 225 withered 111.12 points, or 0.3%, to 44,932.63.
In Hong Kong, the Hang Seng shot higher 232.68 points, or 0.9%, to 26,855.56.
Shares of China’s Zijin Gold skyrocketed over 60% in their Hong Kong debut.
Australia’s central bank expectedly held benchmark policy rates at 3.6% Tuesday as inflation in the country stays at its highest level in more than a year.
The move was in line with expectations from economists polled by Reuters, and comes after the country earlier this month reported headline inflation rate of 3% for August — highest since July 2024 — with housing, food and alcohol driving price growth.
CHINA
In Shanghai, the CSI 300 grabbed 20.64 points, or 0.5%, to 4,640.69
The Manufacturing Purchasing Managers’ Index came in at 49.8, data from the National Bureau of Statistics showed, compared with expectations for 49.6, according to a Reuters poll. While still in contraction, the latest reading was the strongest since March.
Meanwhile, private surveyor RatingDog’s manufacturing purchasing managers’ index came in at 51.2 for September, beating economists’ forecast for 50.2 in a Reuters poll, marking its highest level since May.
In other markets
In Taiwan, markets returned from a long weekend, with the Taiex index perking 240.22 points, or 0.9%, to 25,820.54
In Korea, the Kospi dipped 6.61 points, or 0.2%, to 3,424.60
In Singapore, the Straits Times Index gained 30.18 points, or 0.7%, to 4,300.16.
In New Zealand, the NZX 50 picked up 159.8 points, or 1.2%, to 13,292.36.
In Australia, the ASX 200 retreated 14.02 points, or 0.2%, to 8,848.77
