SINGAPORE — Shares in Asia-Pacific were mixed on Tuesday, as data showed slowing Chinese factory activity growth in August.
China’s factory activity grew at a slower pace in August as compared with the previous month, data released Tuesday showed. The official manufacturing Purchasing Managers’ Index for August came in at 50.1, against July’s reading of 50.4.
Meanwhile, the official non-manufacturing PMI for August came in at 47.5 — its lowest reading since the height of the pandemic in early 2020.
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.
“I think these numbers confirm what a lot of other data has been suggesting for a while now that the Chinese economy is slowing down,” Jonathan Pain, author of The Pain Report, told CNBC’s “Street Signs Asia” on Tuesday.
“China was the first into this pandemic and the first out of it as such and I think now we’re beginning to see a much more broadening kind of slowing in the overall economy,” Pain said.
Tencent, Netease shares mixed
That came after new rules published Monday by China’s National Press and Publication Administration showed plans to limit the time that those under 18 years spend playing video games to just three hours a week.
Hong Kong’s broader Hang Seng index rose 1.33% to close at 25,878.99.
Elsewhere, the S&P/ASX 200 in Australia edged 0.41% higher.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.34%.
|.N225||Nikkei 225 Index||NIKKEI||28451.02||361.48||1.29|
|.HSI||Hang Seng Index||HSI||26028.29||149.30||0.58|
|.AXJO||S&P/ASX 200||ASX 200||7527.10||-7.80||-0.10|
|.FTFCNBCA||CNBC 100 ASIA IDX||CNBC 100||10360.76||33.66||0.33|
Currencies and oil
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 92.502 after its decline last week from above 93.0.
Oil prices were lower during the afternoon of Asia trading hours, with international benchmark Brent crude futures down 0.93% to $72.73 per barrel. U.S. crude futures declined 1.13% to $68.43 per barrel.