Stocks in Asia Pacific were mixed on Tuesday as China’s official manufacturing Purchasing Managers’ Index for March came in better than some analysts expected.
In Japan, the Nikkei 225 index lost 167.96 or 1.6%, to 18,917.01,
The Japanese yen traded at 108.43 per U.S. dollar after touching an earlier high of 107.72. T
In Hong Kong, the Hang Seng Index regained 428.37 points, or 1.9%, to 23,603.48.
Australian markets faded after the index got off to a flying start on Monday and surged by 7%.
The Australian dollar changed hands at $0.6159, still above levels below $0.6 seen last week.
CHINA
The CSI 300 recovered 12.05 points, or 0.3%, to 3,686.16
China on Tuesday said its official manufacturing PMI for March came in at 52.0, indicating an expansion and defying expectations of a contraction.
Analysts had expected the figure to come in at 45 for the month. PMI readings below 50 signify a contraction, while figures above that level indicate an expansion.
One analyst from Bank of Singapore said a “fuller picture” is likely to emerge on Wednesday when a private PMI survey by Caixin and IHS Markit is released.
In February, the official manufacturing PMI plunged to a record low of 35.7 as the country continued to grapple with containing the coronavirus outbreak as well as returning to work after an extensive lockdown. Investors have been watching economic data releases from China for clues on the scale of the economic impact from the outbreak, which was first reported in the country.
In other markets
In Korea, the Kospi index gained back 37.52 points, or 2.2%, to 1,754.64
In Taiwan, the Taiex reattached 78.63 points, or 0.8%, to 9,708.06
In Singapore, the Straits Times Index restocked 64.99 points, or 2.7%, to 2,481.23
In New Zealand, the NZX 50 gained 135.57 points, or 1.4%, to 9,796.75
In Australia, the ASX 200 fell 104.55 points, or 2%, to 5,076.83
