Asia markets mixed as investors digest private surveys on factory activity

In Australia, the S&P 200 decreased by 0.24%.

Service and manufacturing are encompassed by the PMI index, which is seen as a reliable gauge of economic health.

In Hong Kong, the Hang Seng index had a loss in the region and decreased by 0.99% lower. Hang Seng tech index decreased by 2.49%. 

In Japan, the Nikkei 225 decreased by 0.12% and Topix was higher in the margin.

There is a decrease in Japan’s Pmi index to 47.4 from 48.9 in January.

South Korea’s Kospi increased by 0.2% and Kosdaq increased by 0.26%.

In mainland China, the Shenzhen Component increased by 0.13%.

Shanghai Composite also increased by 0.1%

Due to the presidents day holiday the U.S. market was closed and the U.S. futures fell on Monday night.

Dow Jones Industrial Averages Futures decreased by 88 points which is 0.3%. S&P 500 futures decreased by 0.3% and Nasdaq 100 futures decreased by 0.2%. 

The stocks that are yielding high in the spotlight inflation remain hot and treasury yields continue to increase.

The Hang Seng index saw many losses in Asia on Tuesday. This is weighed down by tech stocks.

While the index decreased to 0.99%, the more tech-heavy Hang Seng decreased by 2.5%. 

The e-commerce company JD.com shares decreased almost by 7%.

Content technology company Kuaishou’s share prices decreased by 5.84% and Tencent decreased by 3.13%.

The Dividends of the Mining giant BHP were cut by 40% after it reported a decrease in profits.

Dividends for the half year came to 90 U.S. cents.

“We expect domestic demand in China and India to provide Stabilizing counterweights to the ongoing slowdown in global trade and in the economics of the U.S, Japan, and Europe,” Henry said. 

Shares of BHP group in Australia were trading 1.9% less.

Australia’s private sector output went down for the 5th consecutive month in  February.

The PMI above 50 shows expansion while reading under 50 signals.

Investors have a higher hand after U.S. stocks fell for three consecutive weeks.

- Published By Team Nation Press News