Private survey on Chinese factory activity in August ahead

SINGAPORE — Shares in Asia-Pacific were mixed in Wednesday morning trade, as investors look ahead to the release of a private survey on Chinese factory activity in August.

In Japan, the Nikkei 225 gained 0.44% while the Topix index advanced 0.46%. Meanwhile, South Korea’s Kospi dipped 0.23%.

Australian stocks also fell as the S&P/ASX 200 slipped 0.33%. Australia’s GDP data for the second quarter is set to be out at 9:30 a.m. HK/SIN on Wednesday.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded below the flatline.

Private survey on China factory activity in August

The Caixin/Markit manufacturing Purchasing Managers’ Index for August is set to be out at 9:45 a.m. HK/SIN on Wednesday.

That comes after the official manufacturing PMI released Monday showed slowing Chinese factory activity growth in August, coming in at 50.1 against July’s reading of 50.4.

PMI readings above 50 represent expansion, while those below that level signal contraction. PMI readings are sequential and represent month-on-month expansion or contractions.

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Overnight stateside, the S&P 500 declined 0.13% to 4,522.68 while the Dow Jones Industrial Average shed 39.11 points to 35,360.73. The Nasdaq Composite dipped fractionally to about 15,259.24.

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