APAC markets mixed; ASX200 drops 0.33% ahead of RBA decision

June 01, 2021 02:14 PM AEST | By Furquan Moharkan

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APAC markets mixed; ASX200 drops 0.33% ahead of RBA decision — Image source: Representative Image. © Thomaspajot | Megapixl.com

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Summary

The APAC markets are trading on a mixed note.

Private survey shows Chinese factory activity expanding in May.

Investors await interest rate decision by RBA.

The equity markets in the Asia Pacific (APAC) region were mixed on Tuesday’s trade as a private survey showed that China’s manufacturing activity was growing at a rate faster than expected.

The shares in Mainland China were trading in the red, with the Shanghai composite down 36 basis points and Shenzhen component down by 61 bps. On the other hand, in the Chinese autonomous region of Hong Kong, the Hang Seng index was up 29 bps.

According to Caixin/Markit, the Purchasing Managers’ Index (PMI) of China for May stood at 52, higher than expectations. The May data was also higher compared with April’s 51.9.

Meanwhile, Japan’s Nikkei225 was down 34 bps on Tuesday, while South Korean KOPSI was up 41 bps.

In Australia, the ASX200 was down 33bps, almost an hour before the Reserve Bank of Australia’s interest rate decision.

While Taiwan markets were trading more or less near the flatline, Jakarta Stock Exchange Composite Index was the top gainer in the region – up 1.69%.

Meanwhile Morgan Stanley Capital International’s APAC index was also up 78 bps at the time of filing this copy.

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