Hong Kong, China market slip; Caixin PMI dips

SINGAPORE — Greater China stocks slipped while other Asia-Pacific indexes rose on Monday as a private survey on Chinese factory activity showed growth slowed in July.

Over the weekend, China’s official Purchasing Managers’ Index reading for July came in at 49, down from 50.2 in June and lower than the expected 50.4.

Mainland China markets declined. The Shanghai Composite dipped 0.47% and the Shenzhen Component fell fractionally.

China’s Caixin/Markit manufacturing Purchasing Managers’ Index for July missed expectations, standing at 50.4, compared with the 51.5 predicted in a Reuters poll. In June, the reading was 51.7.

PMI readings are sequential and represent month-on-month expansion or contraction. The 50 mark separates growth from decline.

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Hong Kong’s Hang Seng index fell 0.72% as shares of tech giant Alibaba lost more than 4%.

On Friday in the US, Alibaba was added to a list of companies at risk of delisting under the Holding Foreign Companies Accountable Act. US-listed shares plunged 11% in the regular trading session.

HSBC is set to announce its interim earnings Monday.

Japan’s Nikkei 225 gained 0.28% and the Topix index advanced 0.49%.

In Australia, the S&P/ASX 200 inched up 0.34%.

The Kospi in South Korea climbed 0.24% and the Kosdaq gained 0.21%.

MSCI’s broadest index of Asia-Pacific shares outside of Japan lost 0.27%.

Currencies and oils

The US dollar index, which tracks the greenback against a basket of its peers, was at 105,667, lower than last week’s levels.

The Japanese yen traded at 132.27 per dollar, stronger than levels seen early last week. The Australian dollar was at $0.6983.

Oil futures slipped. US crude futures fell 1.27% to $97.37 per barrel, while Brent crude dropped 1.06% to $102.87 per barrel.


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