A number of Asian
stocks traded lower on Wednesday, May 1, 2013, ahead of the release of Chinese manufacturing data.
As reported cnbc.com,
the Nikkei 225 index at the Tokyo Stock Exchange tends to weaken and move in the
range of 13,800. Meanwhile,
the S & P
ASX 200 which is
the benchmark Australian stocks
also weighed on early
trading.
The Nikkei was
down 0.2 percent and the trend still continues
as the exchange rate below
98 yen per
U.S. dollar, thus
burdening the main exporters. Nikkei has
eroded one percent
since reaching a
high level of 13983 last week.
With the
lack of fresh catalysts, investors still hold
back until the meeting of the Japanese central bank signaled more about the direction of monetary policy.
Financial markets
in Asia such as
Seoul, Hong Kong,
and Shanghai was
closed for a holiday today commemorate Labor Day or
May Day, so trading
will resume on Thursday.
Meanwhile, the Purchasing
Managers Index or
the Purchasing Managers Index (PMI)
for April in China
officially released by HSBC on Wednesday. The result followed
the PMI reports last week, the levels
had fallen to 50.5 in April from 51.6 in
March position.
Indication of this
is reaching the limit of 50 indicates expansion
in the manufacturing sector is not
dynamic.
Symptoms of the
economic slowdown in the world's
second largest can add to concerns about
the global economic outlook.
Sources :
http://bisnis.news.viva.co.id/news/read/409342-terbebani-data-manufaktur-china--saham-asia-turun
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