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Hong Kong shares fall, Asian markets mixed ahead of China’s PMI data

Pedestrians cross a street in front of the Tokyo Stock Exchange, operated by the Japan Exchange Group, in Tokyo, Japan.

Toru Hanai | Bloomberg | Getty Images

Asia-Pacific shares were mixed on Monday ahead of China’s factory activity data scheduled to be released and as markets look ahead to the US Fed meeting later this week.

Hong Kong̵[ads1]7;s The Hang Seng Index fell around 1% in early trade while the Hang Seng Tech index rose 1%. Gambling stocks fell more than 2% after a casino was closed on Sunday due to a Covid case. In mainland China is Shanghai composite fell 0.57% and Shenzhen component fell 0.375%.

The Nikkei 225 rose 1.39%, and the Topix rose around 1%. South Korea’s Kospi added 0.58% and Kosdaq was 0.52% higher.

In Australia is S&P/ASX 200 increased 0.64%. MSCI’s broadest index of Asia-Pacific shares outside Japan was roughly flat.

China’s National Bureau of Statistics is expected to release Purchasing Managers’ Index data on Monday, with analysts expecting a reading of 50, according to a Reuters poll.

Later this week, the Federal Reserve will hold its policy meeting and announce its interest rate decision. Several countries will report inflation data this week.

On Friday in the US, major stock indexes jumped 2% each on optimism that inflation may be easing.

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