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Asian stocks close without a single direction, after losses in NY and Chinese PMIs

Asian stocks closed without a single direction on Wednesday (31), after Wall Street accumulated losses for the third session in a row and while investors digested the latest economic activity data (PMIs) from China.

The Japanese stock index Nikkei fell 0.37% in Tokyo on Wednesday, to 28,091.53 points, while the Hang Seng was practically stable in Hong Kong, with a marginal increase of 0.03%, to 19,954.39 points, the south-west. Korean Kospi rose 0.86% in Seoul, at 2,472.05 points, and Taiex rose 0.95% in Taiwan, at 15,095.44 points.

In mainland China, the day was one of losses: the Shanghai Composite dropped 0.78%, to 3,202.14 points, and the less comprehensive Shenzhen Composite had a more expressive drop, 1.95%, to 2,096.07 points.

The mixed behavior in Asia came after New York stock markets were in the red for a third straight session yesterday, as strong US data supported bets that the Federal Reserve could maintain its aggressive stance and once again raise its base rate by 75 basis points in September.

In China, the official industrial PMI rose to 49.4 in August, slightly beating expectations, but remained below the 50 level that indicates contraction in manufacturing.

The Chinese services PMI, meanwhile, dropped to 52.6 this month, suggesting more restrained expansion in the sector.

In addition, several Chinese cities, such as Shenzhen, Chengdu and Dalian, have once again tightened restrictions to combat covid-19, according to the Ministry of Health. Reuters.

In Oceania, the Australian stock market followed Wall Street, and the S&P/ASX 200 fell 0.16% in Sydney, at 6,986.80 points.

Source: CNN Brasil

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