Asian stocks close mostly lower after losses in NY and Chinese PMI

Asian stocks closed mostly lower on Monday (5), after a round of losses on Wall Street and a new drop in Chinese services activity.

Japan’s Nikkei stock index was down 0.11% in Tokyo today to 27,619.61 points, while the Hang Seng was down 1.16% in Hong Kong to 19,225.70 points, the South Korean Kospi fell 0, 24% in Seoul, at 2,403.68 points, and Taiex recorded a marginal loss of 0.08% in Taiwan, at 14,661.10 points.

In mainland China, however, trading sessions ended with no single direction.

The Shanghai Composite was up 0.42% to 3,199.91 points, but the less comprehensive Shenzhen Composite was down 0.08% to 2,088.09 points.

Caution prevailed in Asia after the New York stock exchanges ended their business on Friday (2) with drops of more than 1%, in the wake of mixed numbers from the US employment report.

In reaction to the so-called payroll, the probability that the Federal Reserve (Fed, the US central bank) will raise interest rates by 75 basis points for the third time in a row, at this month’s meeting, decreased, but continued to be the majority, according to the CME measurement tool. Group

This Monday, New York markets will not operate due to the Labor Day holiday in the US.

Chinese economic activity is also on the radar. The country’s services PMI slipped from 55.5 in July to 55 in August, but remained in expansion territory, according to a survey by S&P Global in partnership with Caixin Media.

In Shenzhen, in turn, there was a new tightening of measures to combat covid-19 over the weekend.

In Oceania, the Australian stock exchange was in the blue, contradicting the mostly negative tone of Asia. The S&P/ASX 200 gained 0.34% in Sydney at 6,852.20 points.