Data shows Chinese factory activity contracted again in May

SINGAPORE – Shares in the Asia-Pacific region fell in early morning trading on Tuesday as investors awaited the market’s reaction to the release of official Chinese factory activity data for May.

Stocks in mainland China fell, as stock prices rose Shanghai boat Sat under the flat line while Shenzhen Component It decreased 0.135%. Hong Kong Hang Seng Index It was trading down 0.15%.

The official Chinese manufacturing PMI for May came in at 49.6, an improvement from April’s reading of 47.4.

The May reading was higher than the 48.6 level expected in a Reuters poll but still below the 50 point mark that separates growth from contraction. The PMI readings are sequential and represent expansion or contraction on a monthly basis.

The Nikkei 225 In Japan it is down 0.27% while Topix is ​​down 0.29%. More in South Korea, Cosby fall 0.08%.

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Australian shares fell with a decline S & P / ASX 200 It decreased by 0.29%.

MSCI’s broadest index of Asia Pacific shares outside Japan was trading at 0.27%.

Markets in the US were closed Monday for a holiday.

Currency and oil

The US dollar indexwhich measures the greenback against a basket of peers, was at 101,675 – still far from levels above 102 seen last week.

The Japanese Yen The dollar traded at 128.18 after yesterday’s weakness from levels below 127.2 against the dollar. The Australian dollar It was at $0.7168, and it continued to rise after climbing from levels below $0.71 last week.

Oil prices rose in the morning from Asian trading hours, with the international standard Brent crude futures contracts It gained 0.62% to $122.43 per barrel. US crude futures contracts It jumped 2.12% to $117.51 ​​a barrel.

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