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China’s official manufacturing PMI reveals expansion in May

SINGAPORE — Asia-Pacific shares were volatile in early trading on Monday. As investors responded to the release of the official China Manufacturing Purchasing Managers Index in May.

Mainland Chinese stocks fell in early trading. The Shanghai composite fell about 0.5%, while the Shenzhen component dropped slightly. Hong Kong’s Hang Seng Index fell 0.47%.

China’s official manufacturing purchasing managers’ index for May was 51.0, compared with analysts̵

7; expectations for a reading of 51.1 in a Reuters poll. The May figure was slightly lower from the previous month’s reading of 51.1.

A PMI reading above 50 indicates expansion, while a value below that level indicates contraction. PMI readings are sequential and represent month-to-month expansion or contraction.

Elsewhere, the Nikkei 225 in Japan fell 0.71%, while the Topix fell 0.56%.

Japanese retail sales rose 12% in April. compared to the previous year According to government data released on Monday That goes against average market forecasts of a 15.3% increase, according to Reuters data.

South Korea’s Kospi Drops 0.14% In Australia, S&P/ASX 200 Little Changes

MSCI’s broadest Asia-Pacific index outside Japan traded about 0.1% higher.

Malaysia market crash

In Southeast Asia, the FTSE Bursa Malaysia KLCI index tumbled more than 1%, the loss comes as the country is set to lockdown nationwide from June 1-14 following a rise in coronavirus infections. rising across the country

The Malaysian ringgit was lower at 4.141 against the dollar, compared to a lower 4.135 against the dollar late last week.

US markets are closed on Mondays for public holidays.

currency and oil

US dollar index It tracks the dollar against a basket of competitors at 90.012 after surging to above 90.3 recently.

The Japanese yen is trading at 109.68 against the dollar after falling late last week to above 110 against the dollar. The Australian dollar changed hands at $0.7717, well below last week’s high of $0.776.

Oil prices rose in the morning of Asian trading hours. International benchmark Brent crude rose 0.29% to $68.92 a barrel. U.S. crude futures rose 0.44% to $66.61 a barrel.

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