SINGAPORE — Asia-Pacific markets rose on the first day of the new quarter as investors wait for the results of a private survey on Chinese factory activity.
The Nikkei 225 in Japan gained 0.37%, and the Topix rose 0.42%, before paring some gains.
Sentiment at Japan’s large manufacturers worsened in the April-to-June period, according to the Bank of Japan’s quarterly tankan business sentiment survey. The headline index for large manufacturers’ sentiment came in at 9, a decline from the previous quarter’s reading of 14.
In South Korea, the Kospi advanced 0.67%, and the Kosdaq was 0.75% higher.
Australia’s S&P/ASX 200 was 0.59% higher.
MSCI’s broadest index of Asia-Pacific shares outside Japan increased 0.24%.
The Caixin/Markit manufacturing Purchasing Managers’ Index for June will also be released later Friday. It is expected to be 50.1, according to a Reuters poll.
PMI readings are sequential and represent month-on-month expansion or contraction. The 50-level separates contraction from expansion.
The official PMI for June stood at 50.2, returning to growth after three months, according to data released Thursday.
Markets in Hong Kong were closed on Friday for a holiday.
The city commemorates the 25th anniversary of its handover from the U.K. to China on Friday. Chinese President Xi Jinping arrived in Hong Kong on Thursday to participate in the anniversary events. It was his first trip outside mainland China since Covid hit.
Hong Kong’s new chief executive, John Lee, will also be sworn in on Friday. Lee, a Beijing loyalist, was the only candidate in the running to replace outgoing leader Carrie Lam.
On Wall Street, U.S. stocks closed the second quarter of the year lower. The S&P 500, which had its worst first half in more than 50 years, declined nearly 0.9% to 3,785.38.
Meanwhile, the Dow Jones Industrial Average slipped 253.88 points, or 0.8%, to 30,775.43, and the Nasdaq Composite pulled back by 1.3% to 11,028.74.
Currencies
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 104.811.
The Japanese yen traded at 135.85 per dollar, after briefly weakening past the 137 level earlier this week. The Australian dollar was at $0.6896.
Oil futures rose in Asia trade. U.S. crude gained 0.62% to $106.42 per barrel, while international benchmark Brent crude rose 0.7% to $109.78 per barrel.
Source: CNBC