Most shares in Asia-Pacific markets turned negative on the first day of the new quarter as traders mulled positive factory activity data from a private survey in China.
As of 9.33 hrs. local time in Thailand, mainland China’s Shanghai Composite slipped 0.16%, while Hong Kong’s Hang Seng index dropped 0.62%.
The Nikkei 225 in Japan dropped 0.55%, and South Korea’s Kospi dropped 0.10%.
Meanwhile, in Australia, the S&P/ASX 200 was 0.57% higher.
China’s Caixin/Markit Manufacturing Purchasing Managers’ Index for June was released on Friday. It came in at 51.7, which is above the 50-level that separates expansion from contraction and tops Reuters polled analysts’ expectations of a 50.1% increase, up from a reading of 48.1 in May.
The official PMI for June was 50.2, showing a three-month return to expansion, according to data released on Thursday.
Meanwhile, the Bank of Japan’s quarterly tankan business sentiment survey found that sentiment among Japan’s large manufacturers had declined in the period between April and June. The headline index for large manufacturers’ sentiment was 9, down from 14 in the previous quarter.