Equity indices in the Asia-Pacific region began the week on a mixed note with Japan’s Nikkei (+0.9%) and South Korea’s Kospi (+3.7%) setting fresh record highs.
Japan’s Nikkei: +0.9%,
Hong Kong’s Hang Seng: +0.9%,
China’s Shanghai Composite: -0.3%,
India’s Sensex: -0.7%,
South Korea’s Kospi: +3.7%,
Australia’s ASX All Ordinaries: +0.1%.
Japan
Japan reported much weaker than expected capital spending for Q1, fueling speculation that Q1 GDP reading will be revised down,
Q1 Capital Spending 0.0% qtr/qtr (expected 4.1%; last 6.5%).
May Manufacturing PMI 54.5, as expected (last 55.1)
Though the market continues expecting a rate hike from the Bank of Japan in the near future.
China
China’s official PMI readings for May essentially reflected a standstill in activity
May Manufacturing PMI 50.0 (expected 50.2; last 50.3) and Non-Manufacturing PMI 50.1 (expected 49.5; last 49.4).
RatingDog Manufacturing PMI 51.8 (expected 51.4; last 52.2)
Australia
Australia’s Manufacturing PMI expanded for the second consecutive month and Japan’s reading expanded for the fifth month in a row.
May Manufacturing PMI 50.7 (expected 50.2; last 51.3).
May MI Inflation Gauge -0.3% m/m (last 0.6%)
May ANZ Job Advertisements 1.8% m/m (last -0.6%).
May Commodity Prices 16.8% yr/yr (last 15.1%)
South Korea
May trade surplus $26.95 bln (expected surplus of $24.30 bln; last surplus of $23.76 bln).
May Imports 20.8% yr/yr (expected 21.5%; last 16.7%) and Exports 53.2% yr/yr (expected 48.4%; last 48.0%).
May Manufacturing PMI 54.8 (last 53.6)
India
May Manufacturing PMI 55.0 (expected 54.3; last 54.7)