October 01, 2021: -On Thursday, shares in Asia-Pacific were mixed, as investors reacted to the release of Chinese factory activity data for September. Mainland Chinese stocks closed higher, with the Shanghai composite up 0.9% to 3,568.17 while the Shenzhen component increased 1.634% to 14,309.01. On the other hand, Hong Kong’s Hang Seng index decrease 0.55% as of its final hour of trading.
The official manufacturing Purchasing Manager Index for September came in at 49.6, fewer expectations for a reading of 50.1 by analysts in a Reuters poll.
PMI reading below 50 represents a contraction; those above that level signify expansion. The readings of PMI are sequential and represent month-on-month expansion or contraction.
Although, a private survey on Chinese factory activity in September came in above expectations, with the Caixin/Markit manufacturing PMI for the month rising to 50 compared with August’s reading 49.2.
The September factory activity readings come as China keeps grappling with a power crunch.
Hong Kong-listed shares of developer China Evergrande decreased over 4% in Thursday afternoon trade after Reuters reported that some bondholders do not receive a due coupon payment by the close of Asia business hours on Wednesday.
Elsewhere in Japan, the Nikkei 225 decreased 0.31% to close at 29,452.66, while the Topix index declined 0.4% to end the trading day at 2,030.16. Japan is set for a new prime minister after Wednesday Fumio Kishida won the governing party leadership election.
South Korea’s Kospi increased 0.28% to close at 3,068.82. Over in Australia, the S&P/ASX 200 increased 1.88% on the day to 7,332.20.
MSCI’s broadest index of Asia-Pacific shares outside Japan surged 0.18%.
Overnight stateside, the Dow Jones Industrial Average edging 90.73 points higher to 34,390.72 while the S&P 500 gaining 0.16% to 4,359.46. The Nasdaq Composite came down 0.24% to 14,512.44.
On Monday, the moves came as investors continued watching the 10-year Treasury yield, which crossed the 1.5% level and has since remained above that mark, last sitting at 1.541%. Yields move inversely to prices.
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