Waterfront city skyline of Sydney city downtown at night with bright illumination of modern architectural landmarks in Sydney, Australia.
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Asia-Pacific markets traded mixed Tuesday as China’s official reading showed manufacturing activity contracted for a sixth straight month, albeit less than market estimates.
The Manufacturing Purchasing Managers’ Index came in at 49.8, data from the National Bureau of Statistics showed, compared with expectations for 49.6, according to a Reuters poll. While still in contraction, the latest reading was the strongest since March.
Meanwhile, private surveyor RatingDog’s manufacturing purchasing managers’ index came in at 51.2 for September, beating economists’ forecast for 50.2 in a Reuters poll, marking its highest level since May.
Mainland China’s CSI 300 was flat at the open.
Australia’s central bank expectedly held benchmark policy rates at 3.6% Tuesday as inflation in the country stays at its highest level in more than a year.
The move was in line with expectations from economists polled by Reuters, and comes after the country earlier this month reported headline inflation rate of 3% for August — highest since July 2024 — with housing, food and alcohol driving price growth.
“The Reserve Bank of Australia’s policy meeting on Tuesday is the key event in the Asia-Pacific region,” said Shier Lee Lim, lead FX and macro strategist of APAC in Convera.
“Any shift in tone or forward guidance could move AUD crosses, especially after recent volatility in building approvals, with August expected to show a 2.8% rise following July’s 8.2% drop,” she added.
Australia’s S&P/ASX 200 was little changed.
Japan’s Nikkei 225 fell 0.1% and Topix traded flat.
South Korea’s Kospi also traded flat, while the Kosdaq fell 0.34%.
Hong Kong’s Hang Seng index rose 0.45%, while the Hang Seng Tech Index added 1.01%. Shares of China’s Zijin Gold skyrocketed over 60% in their Hong Kong debut.
Overnight stateside, the three major averages closed higher. The S&P 500 rose as Wall Street regained some of its footing after a week in which the artificial intelligence trade lost a bit of steam.
The broad market index climbed 0.26% to finish at 6,661.21, and the Nasdaq Composite advanced 0.48% to close at 22,591.15. The Dow Jones Industrial Average settled up 68.78 points, or 0.15%, at 46,316.07.
—CNBC’s Lim Hui Jie, Anniek Bao, Sean Conlon and Yun Li contributed to this report.
