The equity bourses in the Asian and Pacific Rim were trading in the green, for the most part, after better than expected monthly private manufacturing activity data out of China. This is data for the month of June.
In Japan, the Asian benchmark, the Nikkei 225, was trading around the flat line and the broader Topix index, in Tokyo, gave up 0.28 percent.
Across the Korean Strait, the Kospi composite index added over one percent by the late morning and elsewhere in the Asian region, the Australian ASX 200 was up 0.89 percent.
On the mainland, in China, the Shanghai composite was up 0.3 percent and the smaller Shenzhen component was up 0.50 percent by the late morning.
Asian Traders React to Solid Chinese Economic Data
For the month of June the private Caixin/Markit manufacturing purchasing managers’ index (PMI) came in better than expected. This number came in above the expansion level, at fifty (50) at 51.2. The financial markets had expected a print of 50.5.
The official June manufacturing purchasing managers’ index (PMI), released yesterday also showed expansion for the same period.
Traders Wait for the FOMC Meeting Minutes and Data
The world’s largest economy, the United States, will release monthly private ADP non-farm payroll change. Traders should note that the Labor Department’s non-farm payroll (NFP) will be released next week and not on Friday.
The United States will also receive the Institute for Supply Management (ISM) monthly manufacturing purchasing managers’ index. The U.S. Federal Reserve (Fed) will release their last monetary policy and rate decision meeting minutes.
There is a lot on the economic euro area calendar today, as well. Germany will release monthly retail sales data as well as their monthly unemployment change data. Spain is releasing their monthly manufacturing purchasing managers’ index (PMI) and the Eurozone is publishing their monthly final flash manufacturing purchasing managers’ index.