Stock trading mixed; Caixin services PMI data
Tokyo Stock Exchange in Japan.
Noriko Hayashi | Bloomberg via Getty Images
Asia-Pacific shares traded mixed on Monday as investors digested the results of a private survey on activity in China’s services sector.
Hong Kong’s Hang Seng Index fell 1[ads1].29% in early trade, with the Hang Seng Tech Index down more than 2%.
In Japan, the Nikkei 225 fell 0.21%, and the Topix index lost 0.17%.
The Shenzhen component in mainland China fell 0.46%, and the Shanghai Composite fell 0.22%.
China’s Caixin Services Purchasing Managers’ Index came in at 55.0, compared with July’s print of 55.5.
In South Korea, the Kospi rose 0.3% while the Kosdaq fell 0.93%. Australia’s S&P/ASX 200 rose 0.24%.
MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.68% lower.
On Friday in the US, non-farm payrolls for August rose by 315,000, slightly below the Dow Jones estimate. Unemployment increased.
“Stock markets recovered first as a rise in US unemployment due to higher participation was seen as a potential sign of easing inflationary pressures in the US labor market,” ANZ Research said in a Monday note.
“[However,] the improved mood did not last long, as news emerged that Gazprom does not plan to restart gas flows through Nord Stream 1,” the note said.
The Group of Seven nations announced on Friday that they reached an agreement to put a cap on Russian oil prices.
“The lack of reaction in global oil prices suggests some skepticism about the impact,” ANZ Research wrote.
