Mixed Reaction of Asia-Pacific Stocks based on a private survey of Chinese Factory Activity contract
Updated: Aug 28, 2022
By Ritvik Vanukuru
After the release of a private survey based on the activity of Chinese factories in May, Shares in Asia-Pacific presented a mixed reaction.
The Caixin - Markit Manufacturing Purchasing Manager’s Index of China came out to be 48.1 for May, A marginal improvement from the 46 Mark hit in April but still below the 50 level mark that is the tipping scale for expansion and contraction.
Chinese Mainland stocks closed mixed, whereas both Shanghai Composite and Hong Kong's Hang Seng Index had a slide of 0.13% and 0.55%, respectively. The Shenzhen Component contrastingly gained about 0.205% on the final day of trading. According to the Bureau of Statistics, Australia's GDP grew 0.8% Quater on quarterly in the first quarter based on the seasonally adjusted chain volume, A value greater than the Reuters expectation of 0.5%.