Asian markets mixed as China’s factory activity fell in July, according to a Caixin private survey compiled by S&P Global.
Asia-Pacific markets were mixed on Tuesday as China’s factory activity fell into contraction territory for the first time since April, according to a Caixin survey compiled by S&P Global.
The purchasing managers index came in at 49.2 in July, compared to the 50.3 economists had expected.
This comes a day after official data showed factory activity in the country remained in contraction territory for the fourth consecutive month.
Hong Kong’s Hang Seng index rose another 0.63%, but mainland Chinese markets reversed the trend and were all in negative territory. The Shanghai Composite Index fell marginally and the Shenzhen Component Index fell 0.1 percent.
In Australia, the S&P/ASX 200 rose 0.25% ahead of the Reserve Bank of Australia’s interest rate decision. The Reserve Bank of Australia kept the interest rate unchanged at 4.10, contrary to market expectations for a recent rate hike.
Japan’s Nikkei 225 rose 0.45 percent, while Topix rose 0.39 percent as the country’s unemployment rate fell to 2.5 percent in June.
On the other hand, South Korea’s Kospi rose 1.13 percent and Kosdaq rose 1.19 percent.