Asia report: China PMI positive while Japan industry disappoints
Updated : 12:22
Markets in Asia finished mixed on Wednesday, amid better-than-expected PMI figures from China and a weaker sterling.
In Japan, the Nikkei 225 lost 0.14% to 19,650.57, as the yen strengthened slightly against the greenback.
It was last ahead 0.02% at JPY 110.83 per $1.
Industrial production in the country was up 4% month-on-month for April, fresh data revealed during the day - softer than the 4.3% estimated by analysts.
Carmaker Mitsubishi Motor was up 0.84%, after Citi upgraded the stock to ‘neutral’.
The upgrade came after Nissan - which holds a controlling share of Mitsubishi - revealed its medium-term plans for the manufacturer to the market.
On the mainland, the Shanghai Composite was 0.24% higher at 3,117.48, while the Shenzhen Composite lost 0.1% to 1,808.30 as markets came back from an extended weekend.
Official PMI data released during the session came in at 51.2 for the month of May, against the estimated 51.0.
South Korea’s Kospi was up 0.16% at 2,347.38, while the Hang Seng Index in Hong Kong was off 0.16% to 25,660.65.
In Seoul, screen maker LG Display was up 1.72%, adding to gains made on Tuesday which came after it emerged the company was reviewing a planned increase in investment in its OLED screen production.
Focus turned to the UK during the Asian session, as a fresh YouGov poll suggested the ruling Conservative Party could lose 20 of its Commons seats in the upcoming election, while the Labour Party could gain 30 seats.
That would result in a loss of majority for the Tories.
The news led to a tumble in sterling, which was last 0.19% weaker at USD 1.2836.
Oil prices were down during Asian trading, with Brent crude last down 2.41% at $50.62 per barrel and West Texas Intermediate losing 2.08% to $48.65.
Australia’s S&P/ASX 200 was up 0.12% at 5,724.57, while New Zealand’s S&P/NZX 50 was 0.1% firmer at 7,418.90.
The down under dollars were mixed, with the Kiwi last 0.24% stronger against the greenback at NZD 1.4058, while the Aussie weakened 0.05% to AUD 1.3402 per $1.