China’s manufacturing sector slowed down, Shenzhen Component still rose

China’s manufacturing sector slowed down, Shenzhen Component still rose

Mainland Chinese stocks picked up the green in February morning session with both Shanghai Composite indexes inching up 0.2 percent and Shenzhen Component up 1.23 percent.

China’s Shanghai Composite Index edged up 0.2% in the morning session 1/2. Photo: AFP

On the Hong Kong market, the Hang Seng this morning rebounded 1.14%. In Japan, the Nikkei 225 increased by about 1%, while the Topix index rose 0.9%. Korean stocks this morning also welcomed the green color with the Kospi of Korea inching up 0.42%.

In contrast, Australian stocks this morning were tinged red with the S & P / ASX 200 index slipping 0.5%. Shares of some companies exploiting real estate in Australia rose sharply in this morning session. Argent Minerals Mining Company shares soared more than 25% while Adriatic Metals shares rose 14.75%. Overall, the MSCI Asia-Pacific (excluding Japan) slipped 0.14%.

China National Bureau of Statistics on January 31 announced the official Purchasing Managers’ Index (PMI) in the manufacturing sector reached 51.3 points. in January 2021, lower than the level of 51.9 in December 2020. The PMI index above 50 indicates that the sector / sector under survey achieved growth during the survey period.

Expected, the results of the private survey on PMI Caixin / Markit index in the Chinese manufacturing sector in January will be announced today 1/2.

On the money market, the greenback this morning inched. The US dollar index against other major currencies rose to 90,615, from below 90.3. In contrast, the Japanese yen slipped to 104.70 JPY / USD, from 104 JPY / USD set last week, while the Australian dollar also weakened and converted 1 AUD / 0.7623 USD, compared to the level 1. AUD / 0.768 USD in the previous week.

Oil prices on the Asian market fell this morning. Brent crude oil futures for delivery slid 0.11% to $ 54.98 / barrel, while US crude futures prices fell 0.29% to $ 52.05 / barrel.

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