Home World Asia-Pacific shares muted; private survey of Chinese manufacturing activity in June ahead

SINGAPORE — Shares in Asia-Pacific slipped in Thursday morning trade as investors await the release of Chinese economic data.

The Nikkei 225 in Japan shed 0.27% in early trade while the Topix index traded slightly lower. South Korea’s Kospi dipped 0.22%.

Australia stocks also edged lower, with the S&P/ASX 200 falling about 0.1%.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.1% lower.

Markets in Hong Kong are closed on Thursday for a holiday.

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The headline index for large manufacturers’ sentiment in the Bank of Japan’s quarterly tankan business sentiment survey released Thursday came in at plus 14, up from a plus 5 reading in March.

A private survey of Chinese manufacturing activity is also expected later on Thursday, with the Caixin/Markit manufacturing Purchasing Managers’ Index (PMI) for June set to be out at 9:45 a.m. HK/SIN today. China’s official manufacturing PMI for June, released Wednesday, showed slower factory activity growth.

Overnight stateside, the S&P 500 climbed 0.13% to 4,297.50 — its fifth-straight record close. The Dow Jones Industrial Average also rose about 210 points to 34,502.51. The Nasdaq Composite lagged as it dipped 0.17% to 14,503.95.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 92.365 after seeing levels below 92.1 earlier this week.

The Japanese yen traded at 111.11 per dollar, sharply weaker than levels below 110.6 seen against the greenback yesterday. The Australian dollar changed hands at $0.7492, having slipped from above $0.756 earlier in the week.

Oil prices were little changed in the morning of Asia trading hours, with international benchmark Brent crude futures trading marginally lower at $74.60 per barrel. U.S. crude futures also slipped fractionally to $73.44 per barrel.

Here’s a look at what’s on tap:

  • China: Caixin/Markit manufacturing Purchasing Managers’ Index (PMI) for June at 9:45 a.m. HK/SIN

Source: CNBC

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