This week is expected to be relatively quiet for Asian markets, with a gauge of Chinese factory activity and a barrage of Japanese data the likely focal points.
HSBC’s China flash purchasing manager’s index (PMI) for June is due on Monday and analysts are optimistic for a rebound from May’s figure. Last month, the bank’s final reading came in at 49.4, lower than its flash figure of 49.7.
Shane Oliver, head of investment strategy and chief economist at AMP Capital Investors said that an increase in June’s MNI business indicator points to a rise in HSBC’s preliminary reading. The MNI index rose to 55 this month from 53.7 in May.
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