Investing.com - Asian shares were mixed on Friday with Shanghai down after the Caixin services PMI dipped.
The Shanghai Composite Index eased 0.16%, while Hong Kong's Hang Seng Index edged up 0.15% after the disappointing services PMI.
In China, the Caixin services PMI fell to 51.2, below the expected at 52.0 in May, and down from 51.8 in April.
"It also marked the second consecutive monthly decline, underscoring worsening conditions in both the manufacturing and services sectors. Underlying structural changes are still going on, with the manufacturing sector shrinking and services expanding," said said He Fan, Chief Economist at Caixin Insight
Group.
The Nikkei 225 rose 0.21% and the S&P/ASX 200 rose 0.71%.
Earlier in Australia the AIG services index jumped to 51.5 for May, compared with a level of 49.7 in April, putting the indicator in expansion territory.
Capacity utilization fell in May and price measures remain muted, indicating lack of inflation pressure.
"The return of the large services sector to expansion in May is a sign of the resilience of the economy even as it continues to transition in the wake of falling mining-related investment and lower terms of trade. While these are clear positive signs, expansion was notably concentrated in three of the nine services sub-sectors," AI Group Chief Executive Innes Willox said.
Also earlier in Japan, average cash earnings for April rose 0.3%, well below the 0.9% gain seen year-on-year.
Overnight, U.S. stocks staged a late rally on Thursday to close moderately higher, ahead of a key monthly jobs report, as a rebound in oil prices provided a lift to the major indices.
The Dow Jones Industrial Average gained 48.89 or 0.27% to 17,838.56, while the NASDAQ Composite index added 19.11 or 0.39% to 4,971.36, each extending recent hot streaks.
The NASDAQ closed higher for the seventh consecutive session. The S&P 500 Composite index, meanwhile, rose 5.93 or 0.28% to 2,105.26, as seven of 10 sectors closed in the green.