Hong Kong stocks volatile, Asia markets mixed; China PMI shrinks into
Pedestrians cross a street in front of the Tokyo Stock Exchange, operated by Japan Exchange Group, in Tokyo, Japan.
Toru Hanai | Bloomberg | Getty Images
Shares in the Asia-Pacific were mixed on Monday as China factory activity missed expectations, and as markets look ahead to the U.S. Fed meeting later this week.
Hong Kong’s Hang Seng index was fractionally lower while gaming stocks dropped more than 2%. In mainland China, the Shanghai Composite fell 0.57% and the Shenzhen Component slipped 0.375%.
The Nikkei 225 rose 1.39%, and the Topix gained around 1%. South Korea’s Kospi added 0.58% and the Kosdaq was 0.52% higher.
In Australia, the S&P/ASX 200 increased 0.64%. MSCI’s broadest index of Asia-Pacific shares outside Japan was about flat.
China’s National Bureau of Statistics released its Purchasing Managers’ Index data, with the official manufacturing print coming in at 49.2, missing expectations.
Later this week, the Federal Reserve will hold its policy meeting and announce its interest rate decision. Several countries will report inflation data this week.
On Friday in the U.S., major stock indexes jumped 2% each on optimism that inflation may be slowing.
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