Asia Mostly Climbs on China Figures


Shares in major Asia-Pacific markets were mostly higher on Tuesday, as investors reacted to the release of a private survey on Chinese manufacturing activity in May.

In Japan, the Nikkei 225 shed 45.74 points, or 0.2%, to begin June at 28,814.34.

The Japanese yen traded at 109.46 per U.S. dollar, stronger than levels above 110 against the greenback seen late last week.

In Hong Kong, the Hang Seng hiked 316.2 points, or 1.1%, to 29,468.

The Reserve Bank of Australia on Tuesday announced its decision to hold steady on its current policy settings, including keeping the cash rate at 0.1%.

The Australian dollar changed hands at $0.7751, still below levels above $0.776 seen last week.

CHINA

In Shanghai, the CSI 300 gained 10.11 points, or 0.2%, to 5,341.68.

The Caixin/Markit manufacturing Purchasing Managers’ Index (PMI) for May came in at 52, higher than expectations for a reading of 51.9 by analysts in a Reuters poll. The figure for May also compared against April’s reading of 51.9.

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.

PMI readings above 50 represent expansion while those below that level signify contraction. PMI readings are sequential and represent month-on-month expansion or contraction.

In other markets

In Singapore, the Straits Times Index regrouped 22.95 points, or 0.7%, to 3,187.23.

The Kospi index in Korea added 17.95 points, or 0.6%, to 3,221.87

In Taiwan, the Taiex index rocketed 93.95 points, or 0.6%, to 17,162.38

In New Zealand the NZX 50 jumped 141.75 points, or 1.2%, to 12,642.47

In Australia, the ASX 200 dropped 19.06 points, or 0.3%, to 7,142.57.