Asian Equities Lower Before China PMI

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.


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