Shares in Asia-Pacific were mixed on Tuesday after China data showed that manufacturing activity grew less than expected. Meanwhile, trade negotiations between the U.S. and China were set to resume in Beijing.
Japan remains on holiday till May 6 to celebrate the enthronement of the country’s Crown Prince Naruhito.
The Japanese yen traded at 111.39 against the U.S. dollar after strengthening from levels below 111.9 in the previous session.
The Hang Seng index in Hong Kong retreated 193.7 points, or 0.7%, to 29,699.11
In Korea, stocks were down as shares of industry heavyweight Samsung Electronics declined 0.7% after the company posted a 60% decline on-year in its first quarter profit. The company’s key rival, chipmaker SK Hynix, also saw its shares drop 1.3%.
The Australian dollar — seen as an investment proxy for Chinese economic prospects — tumbled to $0.7039 U.S., after touching an earlier high of $0.7069. China is Australia’s largest trading partner, according to the latest data from the Department of Foreign Affairs and Trade in Australia.
Stocks slipped in Australia, as most sectors declined.
CHINA
The CSI 300 in China gained 12.88 points, or 0.3%, to 3,913.21
Manufacturing activity in China fell below expectations in April, data released on Tuesday showed.
The official Purchasing Managers’ Index (PMI) came in at 50.1 for the month of April. Analysts had expected the indicator to stay at 50.5 — the same as the previous month. A reading above 50 indicates expansion, while a reading below that signals contraction.
Data from a private business survey, the Caixin/Markit factory PMI, fell to 50.2 in April — lower than the March reading of 50.8, and missing the 51 projected by analysts in a poll.
In other markets
In Singapore, the Straits Times Index docked 6.82 points, or 0.2%, to 3,400.20
Korea’s Kospi Index slipped 12.84 points, or 0.6%, to 2,203.59
The Taiex Index in Taiwan regained 28.67 points, or 0.3%, to 10,967.73
In New Zealand, the NZX 50 inched up 1.06 points to 10,013.83
In Australia, the ASK 200 shed 34.03 points, or 0.5% to 6,325.47.
