Investors Await Data on Chinese Factory Operations for May

SINGAPORE – Shares in Asia-Pacific were lower Tuesday morning as investors await the release of official Chinese factory activity data for May.

Japan’s Nikkei 225 fell 0.2% while the Topix index fell 0.22%. In South Korea, the Kospi lost 0.53%.

Australian equities were lower as the S&P/ASX 200 fell 0.39%.

MSCI’s broadest index of Asia-Pacific stocks outside of Japan was down 0.19%.

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China’s official manufacturing purchasing managers’ index for May will be released Tuesday at 9:30 a.m. HK/SIN, as investors look for clues about the economic impact of Covid-related lockdowns on the mainland.

US markets were closed Monday for a holiday.

currencies

The US dollar index, which tracks the greenback against a basket of its counterparts, stood at 101,562, still lower than last week’s 102.

The Japanese yen was trading at $128.16 per dollar after weakening from levels below 127.2 against the greenback yesterday. The Australian dollar stood at USD 0.7179 and has continued to rise after climbing from levels below USD 0.71 last week.

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