SINGAPORE — Shares in Asia-Pacific traded mixed on Thursday morning as investors reacted to the release of Chinese factory activity data for September.
China’s official manufacturing Purchasing Managers’ Index for September came in at 49.6, below expectations for a reading of 50.1 by analysts in a Reuters poll.
PMI reading below 50 represent contraction while those above that level signify expansion. PMI readings are sequential and represent month-on-month expansion or contraction.
Meanwhile, a private survey on Chinese factory activity in September came in above expectations, with the Caixin/Markit manufacturing PMI for the month rising to 50 for the month as compared with August’s reading 49.2.
The September factory activity readings come as China continues grappling with a power crunch.
Hong Kong-listed shares of developer China Evergrande fell more than 3% in Thursday morning trade as Reuters reported that some bondholders did not receive a due coupon payment by the close of Asia business hours on Wednesday.
Overnight stateside, the Dow Jones Industrial Average edged 90.73 points higher to 34,390.72 while the S&P 500 gained 0.16% to 4,359.46. The Nasdaq Composite shed 0.24% to 14,512.44.
The moves came as investors continued watching the 10-year Treasury yield, which crossed the 1.5% level on Monday and has since remained above that mark, last sitting at 1.508%. Yields move inversely to prices.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 94.312 following a recent climb from below 94.
The Japanese yen traded at 111.80 per dollar, having weakened from below 111.6 against the greenback yesterday. The Australian dollar changed hands at $0.7193 after falling from above $0.728 earlier this week.