SINGAPORE — Shares in Asia-Pacific were higher in Tuesday morning trade as investors react to the release of a private survey of China’s manufacturing activity.
The Caixin/Markit manufacturing Purchasing Managers’ Index for November came in at 54.9 — its highest reading in a decade. PMI readings above 50 signify expansion, while those below that level represent contraction.
On Monday, the official manufacturing PMI for November came in at 52.1, according to the National Bureau of Statistics — the highest reading in more than three years.
Mainland Chinese stocks were higher: The Shanghai composite gained 0.28% while the Shenzhen component gaining 0.604%. Hong Kong’s Hang Seng index added 0.36%.
In Japan, the Nikkei 225 advanced 1.38% while the Topix index added 0.82%. South Korea’s Kospi gained 1.11%.
Shares in Australia also rose, as the S&P/ASX 200 jumped 1.34%.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.65% higher.
The Reserve Bank of Australia is set to announce its interest rate decision at around 11:30 a.m. HK/SIN on Tuesday.
Ahead of that announcement, the Australian dollar was at $0.7357 after declining from levels around $0.74 yesterday.
Currencies and oil
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 91.892 after an earlier rise from levels around 91.6.
The Japanese yen traded at 104.34 per dollar following a weakening yesterday from levels below 104 against the greenback.
Oil prices were lower in the morning of Asia trading hours, with international benchmark Brent crude futures down 0.88% to $47.46 per barrel. U.S. crude futures fell 0.97% to $44.90 per barrel.
What’s on tap:
- Australia: Reserve Bank of Australia’s interest rate decision at 11:30 a.m. HK/SIN
Source: CNBC