Asia-Pacific stocks mixed; China’s official manufacturing activity data for May ahead

SINGAPORE — Shares in Asia-Pacific were mixed in Monday morning trade, as investors look ahead to the release of China’s official manufacturing Purchasing Managers’ Index for May.

The Nikkei 225 in Japan slipped 0.34% in early trade while the Topix index shed 0.36%.

Japan’s retail sales rose 12% in April as compared with a year earlier, according to government data released Monday .That was against a median market forecast for a 15.3% rise, according to Reuters.

Elsewhere, South Korea’s Kospi edged 0.1% higher. In Australia, the S&P/ASX 200 gained 0.16%.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded fractionally higher.

Investor focus on Monday will likely be on the upcoming release of Chinese manufacturing activity data for May. The official manufacturing Purchasing Managers’ Index for May is expected to be out at 9:00 a.m. HK/SIN on Monday.

Markets in the U.S. are closed on Monday for a holiday.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.074 after a recent spike to levels above 90.3.

The Japanese yen traded at 109.91 per dollar, after weakening late last week to levels above 110 against the greenback. The Australian dollar changed hands at $0.7704, lower than levels above $0.776 seen last week.

Oil prices were higher in the morning of Asia trading hours, with international benchmark Brent crude futures up 0.39% to $68.99 per barrel. U.S. crude futures also gained 0.48% to $66.64 per barrel.

Here’s a look at what’s on tap:

  • China: Official manufacturing Purchasing Managers’ Index for May at 9:00 a.m. HK/SIN

(With Inputs from cnbc)

#AsiaPacific #stocks #mixed #Chinas #official #manufacturing #activity #data #ahead