Investing.com - Asian share markets were mixed on Tuesday, reacting to economic data from the U.S. that shows an uneven recovery ahead of the Federal Reserve policy meeting this week.
The Nikkei 225 rose 0.82% in the morning trading while the Hang Seng rose 0.34% however the Shanghai Composite fell 0.59%.
At the close of U.S. trading on Monday, the Dow Jones Industrial Average rose 0.10%, the S&P 500 index fell 0.01%, while the Nasdaq Composite index rose 0.06%.
The Federal Reserve will hold a monetary policy meeting on Dec. 17-18, and surprisingly strong retail sales, consumer sentiment, employment and other indicators have many betting the U.S. central bank will announce plans to trim its asset-purchasing plan then or shortly afterwards, which watered down stock prices in recent sessions to levels ripe for bottom fishing on Friday.
But pockets of investors betting the Fed will hold off until early 2014 bolstered prices somewhat.
London-based market research group Markit reported Monday that its preliminary U.S. manufacturing purchasing managers’ index declined to a seasonally adjusted 54.4 in December from a final reading of 54.7 in November.
Analysts were expecting the index to rise to 54.9 this month.
The Federal Reserve Bank of New York reported earlier that its Empire State manufacturing index came in at 0.98 in December compared to November's -2.21 reading, though analysts were expecting the index to rise to 4.75.
Separately, the Federal Reserve reported that U.S. industrial production advanced 1.1% in November after having edged up 0.1% in October, beating consensus forecasts for a 0.5% November reading.
European indices, meanwhile, finished higher on Monday.
After the close of European trade, the EURO STOXX 50 rose 1.83%, France's CAC 40 rose 1.48%, while Germany's DAX 30 rose 1.74%. Meanwhile, in the U.K. the FTSE 100 finished up 1.28%.
On Tuesday, the U.S. is to release data on consumer inflation and its current account balance.
The Nikkei 225 rose 0.82% in the morning trading while the Hang Seng rose 0.34% however the Shanghai Composite fell 0.59%.
At the close of U.S. trading on Monday, the Dow Jones Industrial Average rose 0.10%, the S&P 500 index fell 0.01%, while the Nasdaq Composite index rose 0.06%.
The Federal Reserve will hold a monetary policy meeting on Dec. 17-18, and surprisingly strong retail sales, consumer sentiment, employment and other indicators have many betting the U.S. central bank will announce plans to trim its asset-purchasing plan then or shortly afterwards, which watered down stock prices in recent sessions to levels ripe for bottom fishing on Friday.
But pockets of investors betting the Fed will hold off until early 2014 bolstered prices somewhat.
London-based market research group Markit reported Monday that its preliminary U.S. manufacturing purchasing managers’ index declined to a seasonally adjusted 54.4 in December from a final reading of 54.7 in November.
Analysts were expecting the index to rise to 54.9 this month.
The Federal Reserve Bank of New York reported earlier that its Empire State manufacturing index came in at 0.98 in December compared to November's -2.21 reading, though analysts were expecting the index to rise to 4.75.
Separately, the Federal Reserve reported that U.S. industrial production advanced 1.1% in November after having edged up 0.1% in October, beating consensus forecasts for a 0.5% November reading.
European indices, meanwhile, finished higher on Monday.
After the close of European trade, the EURO STOXX 50 rose 1.83%, France's CAC 40 rose 1.48%, while Germany's DAX 30 rose 1.74%. Meanwhile, in the U.K. the FTSE 100 finished up 1.28%.
On Tuesday, the U.S. is to release data on consumer inflation and its current account balance.