Looking Ahead in Asia

China should remain the key focus for markets this week, with the release of key manufacturing activity data.  The closely-watched reports come on the heels of a roller-coaster ride in the benchmark Shanghai Composite.

Last Thursday, mainland shares dived 6.5 percent, posting its biggest one-day loss since January 19, after news that more brokerages are tightening margin lending rules sparked concerns over the retail investor-driven rally. Investors also took profit ahead of this week’s tranche of new share-listings.  On Friday, the Shanghai bourse ended an erratic session 0.15 percent lower.

Monday will bring separate readings of China’s May factory activity from the government and HSBC.  Due at 0900 SIN/HK, China’s official purchasing managers’ index (PMI) is expected to come in at 50.2, a tick up from April’s 50.1 and above the 50-mark that demarcates expansion in the manufacturing sector from contraction.

CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.