Investing.com - Asian stock markets were mostly lower on Monday, as appetite for riskier assets weakened following the release of disappointing Chinese manufacturing data.
During late Asian trade, Hong Kong's Hang Seng Index was down 0.1%, Australia’s ASX/200 Index ended 0.8% lower, while Japan’s Nikkei 225 Index plunged 3.7%.
Midway through the session, data showed that China’s final HSBC Flash Purchasing Managers Index fell to 49.2 in May from a flash reading of 49.6 and down from 50.4 in April.
The disappointing data came one day after a government report showed that China’s manufacturing purchasing managers' index inched up to 50.8 last month from 50.6 in April.
In Hong Kong, the Hang Seng swung between modest gains and losses as investors digested the conflicting Chinese manufacturing data.
Raw material producers were mostly lower as market players sold the stocks amid concerns over a slowdown in demand from China.
Gold miner Zijin Mining Group tumbled 4.2%.
Meanwhile, in Tokyo, the Nikkei fell sharply to hit a six-week low as traders eyed movements in the yen and in the Japanese government bond market.
USD/JPY traded at 100.29, the weakest level since May 9. A stronger yen reduces the value of overseas income at Japanese companies when repatriated, dampening the outlook for export earnings.
Automakers Toyota and Honda dropped 3.3% and 2.5% respectively, while Sony and Sharp fell 5.4% and 10.3% apiece.
Japanese megabanks also contributed to losses, with shares in the nation’s largest lender Mitsubishi UFJ Financial Group retreating 5.4%, while Sumitomo Mitsui Financial Group and Mizuno Financial Group sank 5.3% and 6.2% respectively.
Elsewhere, in Australia, the benchmark ASX/200 Index ended lower as miners came under pressure amid concerns over the global economic outlook.
Mining heavyweights BHP Billiton and Rio Tinto lost 2.7% and 2.6% respectively, while Fortescue Metals Group dropped 2.7%.
The big four banks were mostly higher, however, as investors looked ahead to Tuesday’s interest rate decision by the Reserve Bank of Australia for further hints regarding the central bank’s monetary policy.
Westpac Banking Group added 2.3%, while National Australia Bank and Commonwealth Bank of Australia tacked on 1.3% and 0.3%.
Looking ahead, European stock market futures pointed to a steady open.
The EURO STOXX 50 futures pointed to a modest gain of 0.1% at the open, France’s CAC 40 futures were little changed, London’s FTSE 100 futures were flat, while Germany's DAX futures pointed to a loss of 0.1% at the open.
Investors were looking ahead to revised data on euro zone manufacturing data later in the trading day, ahead of the European Central Bank’s upcoming policy meeting on Thursday.
During late Asian trade, Hong Kong's Hang Seng Index was down 0.1%, Australia’s ASX/200 Index ended 0.8% lower, while Japan’s Nikkei 225 Index plunged 3.7%.
Midway through the session, data showed that China’s final HSBC Flash Purchasing Managers Index fell to 49.2 in May from a flash reading of 49.6 and down from 50.4 in April.
The disappointing data came one day after a government report showed that China’s manufacturing purchasing managers' index inched up to 50.8 last month from 50.6 in April.
In Hong Kong, the Hang Seng swung between modest gains and losses as investors digested the conflicting Chinese manufacturing data.
Raw material producers were mostly lower as market players sold the stocks amid concerns over a slowdown in demand from China.
Gold miner Zijin Mining Group tumbled 4.2%.
Meanwhile, in Tokyo, the Nikkei fell sharply to hit a six-week low as traders eyed movements in the yen and in the Japanese government bond market.
USD/JPY traded at 100.29, the weakest level since May 9. A stronger yen reduces the value of overseas income at Japanese companies when repatriated, dampening the outlook for export earnings.
Automakers Toyota and Honda dropped 3.3% and 2.5% respectively, while Sony and Sharp fell 5.4% and 10.3% apiece.
Japanese megabanks also contributed to losses, with shares in the nation’s largest lender Mitsubishi UFJ Financial Group retreating 5.4%, while Sumitomo Mitsui Financial Group and Mizuno Financial Group sank 5.3% and 6.2% respectively.
Elsewhere, in Australia, the benchmark ASX/200 Index ended lower as miners came under pressure amid concerns over the global economic outlook.
Mining heavyweights BHP Billiton and Rio Tinto lost 2.7% and 2.6% respectively, while Fortescue Metals Group dropped 2.7%.
The big four banks were mostly higher, however, as investors looked ahead to Tuesday’s interest rate decision by the Reserve Bank of Australia for further hints regarding the central bank’s monetary policy.
Westpac Banking Group added 2.3%, while National Australia Bank and Commonwealth Bank of Australia tacked on 1.3% and 0.3%.
Looking ahead, European stock market futures pointed to a steady open.
The EURO STOXX 50 futures pointed to a modest gain of 0.1% at the open, France’s CAC 40 futures were little changed, London’s FTSE 100 futures were flat, while Germany's DAX futures pointed to a loss of 0.1% at the open.
Investors were looking ahead to revised data on euro zone manufacturing data later in the trading day, ahead of the European Central Bank’s upcoming policy meeting on Thursday.