{"id":31680,"date":"2022-06-01T06:18:50","date_gmt":"2022-06-01T06:18:50","guid":{"rendered":"https:\/\/harchi90.com\/private-survey-on-chinese-factory-activity-in-may-ahead\/"},"modified":"2022-06-01T06:18:50","modified_gmt":"2022-06-01T06:18:50","slug":"private-survey-on-chinese-factory-activity-in-may-ahead","status":"publish","type":"post","link":"https:\/\/harchi90.com\/private-survey-on-chinese-factory-activity-in-may-ahead\/","title":{"rendered":"Private survey on Chinese factory activity in May ahead"},"content":{"rendered":"
SINGAPORE – Shares in Asia-Pacific were mixed in Wednesday trade, with investors watching for market reaction to the release of a private survey on Chinese factory activity for May.<\/p>\n
Mainland Chinese stocks were mixed, with the Shanghai Composite sitting below the flatline while the Shenzhen Component was up 0.419%. Hong Kong’s Hang Seng index slipped 0.74%.<\/p>\n
China’s Caixin \/ Markit manufacturing Purchasing Managers’ Index for May came in at 48.1 on Wednesday, an improvement over April’s reading of 46 but still remaining below the 50-level mark that separates expansion from contraction.<\/p>\n<\/div>\n
\n\n\nWe’re in a relatively calm period, there has been a risk-on environment that’s been triggered by some degree of opening up in China.<\/p>\n
\nManishi Raychaudhuri<\/p>\n
head of Asia-Pacific equity research, BNP Paribas<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/blockquote>\n
\nChina’s official manufacturing PMI for May, released Tuesday, came in at 49.6 – an improvement over April’s reading of 47.4. The May reading was above the 48.6 level expected from a Reuters poll.<\/p>\n
PMI readings are sequential and represent month-on-month expansion or contraction.<\/p>\n
The Nikkei 225 in Japan gained 0.61% while the Topix index advanced 1.19%.<\/p>\n
In Australia, the S & P \/ ASX 200 climbed 0.11%. Australia’s gross domestic product grew 0.8% quarter-on-quarterly in seasonally adjusted chain volume terms during the first quarter, data from the country’s Bureau of Statistics showed Wednesday. That was above expectations in a Reuters poll for a 0.5% gain.<\/p>\n
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.41% lower.<\/p>\n
“We’re in a relatively calm period, there has been a risk-on environment that’s been triggered by some degree of opening up in China,” Manishi Raychaudhuri, head of Asia-Pacific equity research at BNP Paribas, told CNBC’s “Street Signs Asia “on Wednesday. “There has also been commentary, a narrative that the risk perception is way too high among institutional investors.”<\/p>\n
“That said, we must also keep in mind that we’re now about to enter a period of quite severe monetary policy tightening,” he added. “We have to brace for the impact at least, you know, in the next one quarter or so.”<\/p>\n<\/div>\n
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