Investing.com - Asian shares were mixed on Tuesday as a weaker than expected Caixin manufacturing survey was shrugged off and investors eyed U.S. jobs data at the end of the week.
The S&P/ASX 200 rose 0.65%, while the Shanghai Composite Index was last up 1.39% to 2,979.05. Hong Kong's Hang Seng index was last down 1.16% to 20,823.48. Markets in Japan were shut for a public holiday.
The Caixin Manufacturing PMI for April came in at 49.4, below the 49.9 expected.
"The Caixin China General Manufacturing PMI for April came in at 49.4, down 0.3 points from March's reading. All of the index's categories indicated conditions worsened month-on-month, with output slipping back below the 50-point neutral level. The fluctuations indicate the economy lacks a solid foundation for recovery and is still in the process of bottoming out. The government needs to keep a close watch on the risk of a further economic downturn," Caixin Insight Group chief economist He Fan said.
Ahead, the RBA cash rate decision is close run for analysts, but most expect it to hold steady at a record low 2.0%.
Elsewhere, John Williams, president of the San Francisco Fed, said that the long-term view on global interest rates remains below trend even after central banks start hiking.
Overnight, U.S. stocks rose sharply on Monday, rallying from last week's mild sell-off that capped a flat month of April, as the major indices continue to show signs of decoupling with volatile oil prices.
The Dow Jones Industrial Average gained 117.52 or 0.66% to 17,891.16, while the NASDAQ Composite index added 42.23 or 0.88% to 4,817.59, halting a seven-day losing streak. The S&P 500 Composite index, meanwhile, rose 16.13 or 0.78% to 2,081.43, as nine of 10 sectors closed in the green.