Asia Pacific stocks mostly higher; private survey shows better-than-expected Chinese factory activity - CNBC

cicingwos.blogspot.com

Stocks in Asia Pacific mostly edged higher in Wednesday morning trade as a private survey showed China's factory activity for June was better than expected.

Shares in South Korea led gains regionally, with the Kospi up 1.02% in morning trade.

Mainland Chinese stocks were higher in early trade, with the Shanghai composite up 0.31% while the Shenzhen component added 0.505%.

Meanwhile, the Nikkei 225 in Japan hovered above the flatline while the Topix index slipped 0.28%.

Over in Australia the S&P/ASX 200 traded 0.89% higher.

Overall, the MSCI Asia ex-Japan index rose 0.45%.

Markets in Hong Kong are closed for trading on Wednesday for a holiday.

A private survey showed Chinese manufacturing activity in June growing more than expected, with the Caixin/Markit manufacturing Purchasing Manager's Index (PMI) coming in at 51.2 last month. That was above expectations of a reading of 50.5 by analysts in a Reuters poll.

PMI readings above the 50-level signify expansion on a monthly basis, while those below that figure represent contraction. The official manufacturing PMI released Tuesday also showed factory activity in China expanding in June.

The Bank of Japan's quarterly Tankan survey released Wednesday showed a worsening business mood in the country. The headline index for large manufacturers' sentiment worsened to -34 in June — its lowest level since June 2009, according to Reuters — as compared with -8 in March.

Oil prices jump

Oil prices rose in the morning of Asian trading hours, with international benchmark Brent crude futures up 1.21% to $41.77 per barrel. U.S. crude futures also added 1.43% to $39.83 per barrel.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 97.355 after falling from levels above 97.5 seen earlier.

The Japanese yen traded at 107.81 per dollar following its weakening from levels below 107.5 earlier in the trading week. The Australian dollar changed hands at $0.6906 after rising from levels below $0.685 yesterday.

Let's block ads! (Why?)

"activity" - Google News
July 01, 2020 at 09:13AM
https://ift.tt/3eQJ9ef

Asia Pacific stocks mostly higher; private survey shows better-than-expected Chinese factory activity - CNBC
"activity" - Google News
https://ift.tt/3ddCXMh
https://ift.tt/2WkO13c

Bagikan Berita Ini