Asian Stocks Slow Down after Chinese PMI Misses Expectations
Investors are monitoring the movement in Asian stocks after China reported a slightly slower PMI growth in May at 51.0 reading.
Stocks in Asia traded lower on Monday as the report of China’s manufacturing activity showed a slower growth in May.
As of 9:16 local time in Thailand, Nikkei fell 0.75%, SSEC dropped 0.41%, HSI lost 0.27%, ASX 200 slipped 0.07% and Kospi dipped 0.05%.
Last Friday, SET Index closed at 1,581.98 points, decreased 0.98 points or 0.06% with a trading value of 99.5 billion baht.
China’s manufacturing Purchasing Managers’ Index (PMI) for May came in at 51.0, which was slightly lower than the expectation of 51.1 from Reuters Poll.
Meanwhile, Malaysia entered another lockdown after a spike in domestic coronavirus cases. FTSE Bursa Malaysia KLCI Index dropped nearly 1% this morning.
The international benchmark Brent Crude continued to climb by 0.31% to US$68.93 per barrel and WTI rose 0.44% to US$66.61 a barrel.