HomeWorld NewsData shows China factory activity growth slowed in August

Data shows China factory activity growth slowed in August

SINGAPORE — Shares in Asia-Pacific largely slipped in Tuesday commerce, as information confirmed slowing Chinese language manufacturing unit exercise progress in August.

In mainland China, the Shanghai composite fell 0.75% whereas the Shenzhen element shed 1.674%.

China’s manufacturing unit exercise grew at a slower tempo in August as in contrast with the earlier month, information launched Tuesday confirmed. The official manufacturing Buying Managers’ Index for August got here in at 50.1, in opposition to July’s studying of fifty.4.

PMI readings above 50 signify growth, whereas these beneath that stage sign contraction. PMI readings are sequential and signify month-on-month growth or contractions.

Hong Kong-listed shares of Tencent and Netease fell 3.18% and three.46%, respectively, by Tuesday afternoon within the metropolis. That got here after new guidelines revealed Monday by China’s Nationwide Press and Publication Administration confirmed plans to restrict the time that these below 18 years spend taking part in video video games to simply three hours every week.

Hong Kong’s broader Dangle Seng index dropped 1.43%.

In Japan, the Nikkei 225 rose 0.57% whereas the Topix index superior 0.32%. South Korea’s Kospi gained 0.61%.

Elsewhere, the S&P/ASX 200 in Australia edged 0.38% increased.

MSCI’s broadest index of Asia-Pacific shares exterior Japan slipped 0.46%.

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In a single day stateside, the S&P 500 edged 0.43% increased to 4,528.79 whereas the tech-heavy Nasdaq Composite gained 0.9% to fifteen,265.89. The Dow Jones Industrial Common lagged, dipping 55.96 factors to 35,399.84.

Currencies and oil

The U.S. greenback index, which tracks the dollar in opposition to a basket of its friends, was at 92.573 after its decline final week from above 93.0.

The Japanese yen traded at 109.86 per greenback, weaker than ranges beneath 109.8 seen in opposition to the dollar yesterday. The Australian greenback was at $0.7304, largely holding on to features after its climb from beneath $0.72 final week.

Oil costs have been decrease throughout Asia buying and selling hours, with worldwide benchmark Brent crude futures down 0.4% to $73.12 per barrel. U.S. crude futures declined 0.51% to $68.86 per barrel.

— CNBC’s Arjun Kharpal and Lauren Feiner contributed to this report.

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