APAC markets mixed; ASX200 in red despite positive GDP numbers

Highlights

  • ASX is trading in the red despite better-than-expected GDP numbers
  • China markets are in the green.
  • Japan is the biggest gainer in the region.

Asia Pacific shares were trading mixed on Wednesday, with Australian shares in negative despite better-than-expected gross domestic product (GDP) numbers.

The benchmark ASX200 was trading 0.25% lower at the time of filing this copy. Australia’s gross domestic product rose 0.7% in the June quarter, according to data released by the Australian Bureau of Statistics. The growth numbers came in above expectations of a 0.4% increase, that economists were discounting for.

In Mainland China, stocks were mixed as the Shanghai Composite advanced 0.42% while the Shenzhen component rose 0.32%. In the Chinese Administrative Region of Hong Kong, the benchmark Hang Seng index edged 0.34% higher.

The Caixin/Markit manufacturing Purchasing Managers’ Index for August came in at 49.2 on Wednesday, below the 50-mark – that separates expansion from contraction.

The Wednesday private survey release came a day after the official manufacturing PMI was released, showing China’s sluggish factory activity growth in August, coming in lower at 50.1 against July’s reading of 50.4.

In far east Japan, the benchmark Nikkei 225 gained 1.11%. On the other hand, the Topix index advanced 0.89%. Meanwhile, South Korea’s KOSPI climbed 0.14%.

In India, the prime benchmark – BSE Sensex – continued its record-breaking run and was up 0.25%.

Meanwhile, Morgan Stanley Capital International’s broadest index of Asia-Pacific shares outside Japan traded 0.26% lower.

Overnight in US, stocks were mixed; the S&P500 declined 0.13% to close at 4,522.68 while the Dow Jones Industrial Average shed 39.11 points to end at 35,360.73. The Nasdaq Composite dipped fractionally to close at 15,259.24.

Comment


Disclaimer