Data shows Chinese factory activity contracted again in May

SINGAPORE – Shares in the Asia-Pacific region were mixed on Tuesday as investors awaited the market’s reaction to the release of official Chinese factory activity data for May. Oil prices rose after European Union leaders agreed to ban 90% of Russian crude.

The Shanghai boat In mainland China was close to stability while Shenzhen Component It decreased 0.196%. Hong Kong Hang Seng Index It was trading 0.18% higher.

The official Chinese manufacturing PMI for May came in at 49.6, an improvement from April’s reading of 47.4.

The May reading was higher than the 48.6 level expected in a Reuters poll but still below the 50 point mark that separates growth from contraction. The PMI readings are sequential and represent expansion or contraction on a monthly basis.

The Nikkei 225 In Japan, it hovered near the flat line while Topix was down 0.09%. More in South Korea, Cosby It rose 0.1%.

Australian shares fell with a decline S & P / ASX 200 It decreased by 0.23%.

The broadest index of MSCI Asia Pacific shares was little changed outside of Japan.

Markets in the US were closed Monday for a holiday.

international standard Brent crude futures contracts It gained 0.62% to $122.43 per barrel. US crude futures contracts It jumped 2.41% to $117.84 a barrel.

The US dollar indexwhich measures the greenback against a basket of peers, was at 101.616 – still far from levels above 102 seen last week.

The Japanese Yen The dollar traded at 128.08 after yesterday’s weakness from levels below 127.2 against the dollar. The Australian dollar It was at $0.7184, versus the previous high of $0.7203.