Asia-Pacific stocks soar, investors await China factory activity data for May

SINGAPORE – Shares in Asia-Pacific were mixed in early morning trade as investors await the release of official sugar factory activity data for May.

Nikkei 225 Japan lost 0.12% in early trade while the Topix index lost 0.14%. Over in South Korea, kospi partially elevated.

Australian shares changed little as S&P/ASX 200 Stuck close to the flatline.

MSCI’s broadest index of Asia-Pacific shares outside Japan is up 0.07%.

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China’s official Manufacturing Purchasing Managers’ Index for May is to be released on Tuesday at 9:30 am HK/SIN, as investors look for clues on the economic impact of COVID-related lockdowns on the mainland.

Markets remained closed in the US on Monday due to the holiday.

currencies

US Dollar IndexThe greenback, which tracks against a basket of his peers, was at 101.421 – still well below the level above the 102 seen last week.

Japanese yen After weakening from yesterday’s low of 127.2 against the greenback, traded at 127.75 per dollar. Australian Dollar was at $0.7191, continuing a steady upward move after climbing from lows below $0.71 last week.