Asia markets mixed as investors digest private surveys on factory activity

Asia-Pacific markets were mixed on Tuesday as investors await regional private surveys for factory activity.

In Australia, the S&P/ASX 200 closed 0.21% lower at 7,336.3 as investors digest the nation’s Judo Bank composite purchasing managers’ index, which climbed to 49.2, below the 50-mark that separates growth and contraction.

The PMI index encompasses services and manufacturing, and is seen as a reliable gauge of economic health.

The Reserve Bank of Australia released minutes from its February policy meeting, which reiterated comments from governor Philip Lowe that more interest rate hikes will be needed.

In Hong Kong, the Hang Seng index led losses in the region as it fell 1.5% lower, and the Hang Seng Tech index slid 3.08%.

In Japan, the Nikkei 225 fell 0.21% to end the day at 27,473.1 and the Topix finshed marginally higher at 1,997.46, with Japan’s PMI index coming in lower at 47.4. down from 48.9 in January.

South Korea’s Kospi also rose 0.16% to close at 2458.96, while the Kosdaq ended 0.57% higher at 793.42.

In mainland China, the Shenzhen Component closed 0.12% higher at 11,968.6, and the Shanghai Composite also was up 0.41% to end the day at 3,303.14.

While U.S. markets were closed due to Presidents’ day holiday, U.S futures fell on Monday night following a week during which higher interest rates kept investor sentiment in check.

Dow Jones Industrial Average futures dipped 88 points, or 0.3%. S&P 500 futures dipped 0.3%, and Nasdaq-100 futures pulled back by 0.2%.

— CNBC’s Fred Imbert contributed to this report.

Source: https://www.cnbc.com/2023/02/21/asia-markets-investors-await-rba-minutes-and-pmi-data-.html