PI Global Investments
Precious Metals

Stocks fall sharply, China’s Caixin PMI data out

An employee works at the Tokyo Stock Exchange in Tokyo, Japan, on Jan. 13, 2022.

Toru Hanai | Bloomberg | Getty Images

Shares in the Asia-Pacific are mostly trading lower Thursday as investors digest the results of a private survey on China’s factory activity.

In Australia, the S&P/ASX 200 briefly fell more than 2% and was last 1.67% lower, while the Australian dollar weakened to $0.6803.

Japan’s Nikkei 225 slipped 1.75%, and the Topix index dropped 1.39%. Hong Kong’s Hang Seng index was 1.52% lower, and the Hang Seng Tech index slipped 1.15%.

The Kospi in South Korea shed 1.83% and the Kosdaq lost 1.49%.

In mainland China, the Shanghai Composite was up 0.24% after opening lower, while the Shenzhen Component was also up 0.171%.

MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 1.63%.

China’s Caixin/Markit manufacturing Purchasing Managers’ Index for August released Thursday showed the sector slipping into contraction this month.

This comes after official manufacturing PMI data released on Wednesday showed that factory activity shrank amid a recent rise in Covid infections, and the nation facing the worst heatwaves in decades.

Overnight in the U.S., major stock indexes rose earlier in the session, but closed lower for a fourth straight day.

The Dow Jones Industrial Average shed 280.44 points, or nearly 0.9%, to 31,510.43. The S&P 500 slipped roughly 0.8% to end the day at 3,955, and the Nasdaq Composite declined about 0.6% to 11,816.20.

Source link

Related posts

Zimbabwe Eyes to Receive Mining Royalties in the Form of Refined Metal


Raymond James Trims Price Target on Wheaton Precious Metals to $54 From $55, Keeps Outperform Rating


Bullion Cues: Precious metals under strain


Leave a Comment


Get our latest downloads and information first. Complete the form below to subscribe to our weekly newsletter.

    100% secure your website.