Most Asian markets rose on Tuesday as investors watched renewed trade tensions between the United States and China. Market observers have taken into account reports that new US tariffs on Chinese goods will come into force on Friday.
On the data front, manufacturing activity in Japan rose in April, and the Manufacturing PMI came in at 50.2, the highest reading since January.
Japanese manufacturing at its highest level in 3 months in April
Manufacturing activity in Japan rose in April, according to a statement released by Nikkei / IHS Marquette on Tuesday. Manufacturing PMI was 50.2 in April from 49.2 in March, the highest reading since January.
New orders were down in April, though at a slower pace. At the same time, export orders continued to decline more rapidly. Operating costs increased due to increased fuel, labor, building materials and metal expenditures, although inflation was the weakest since August 2017. Business confidence reached a five-month high in April.
"The rise in the Japanese manufacturing PMI to a three-month high will be a welcome sign that the recent decline in momentum has eased at the moment," said Joe Hayes, an economist at IHS Market. "Given the difficulties that companies face In the semiconductor and automotive-related industries
In recent months it has been good to note that strong optimism was partly driven by more optimistic expectations for these two major Asian industries.
Asian stocks close
- China's Sang Hang Index rose 0.88% at 4:20 am CET.
- The Shenzhen Composite Index also rose by 2.26% at the same time.
- South Korea's KSE Composite Index fell 0.94% at 4:33 am CET.
- The Nikkei 225 rose 0.28% at 4:32 am.
- The Hang Seng Index in Hong Kong rose 0.80% at 4:32 CET.
- The Australian S & P / ASX 200 rose 0.94% at 4:33 am CET.
The greenback was down 0.05% against the yen, trading at 110.7060 at 4:31 am.
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