Asian stocks declined on Tuesday in quiet trade with Japanese markets shut for Autumnal Equinox Day.
Focus in Asia was on HSBC/Markit’s preliminary gauge of Chinese factory activity for September, due at 9:45am SIN/HK. Economists polled by Reuters expect the Purchasing Managers’ Index (PMI) at 50, slowing from August’s final reading of 50.2, a three-month low.
The data follows comments by Chinese Finance Minister Lou Jiwei on Sunday, which weighed on Wall Street shares overnight. Jiwei said that Beijing would not make alter its economic policy on the back of one economic indicator, quashing hopes that weak data would prompt additional stimulus measures.
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.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015