Most markets in the Asia-Pacific region showed positive signs on Monday, with investors weighing the data that showed an improvement in China’s services activity for May, although it remained in a downward zone.
In particular, China’s Caixin Services Purchasing Managers’ Index stood at 41.4 points from 36.2 in April. These figures follow the rise of the non-manufacturing PMI last week to 47.8 points for May, from 41.9 in April, but the indices are still below the 50 threshold separating growth from shrinkage.
Meanwhile, US Commerce Secretary Gina Raimondo told CNN yesterday that the Biden government was “considering” the possible lifting of certain tariffs in China to fight inflation.
“The president has asked us to analyze this, and so we are in the process of getting the president to make that decision,” Raimondo said, adding that “it may make sense” to consider easing tariffs on certain products. such as household items and bicycles.
In this climate, in China Shanghai Composite is up 1.05%, while Shenzhen is up 2.52%. In the Hong Kongthe Hang Seng Index climbs by 1.09%.
In Japan, the Nikkei 225 adds 0.7%, as the share of Fast Retailing jumps 2.87%. The Topix index is moving up by 0.35%.
In Australiathe S & P / ASX 200 index loses 0.33%.
Shopping at South Korea are closed on Monday due to public holiday.
Source: Capital
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
