Asia-Pacific Markets React to China's Economic Indicators

On Monday, Asia-Pacific markets showed mixed reactions as investors digested the latest economic data from China. The official purchasing managers' index (PMI) for January dropped to 49.1, indicating a contraction and falling short of the forecasted 50.1. Despite this, December's industrial profits saw an 11% year-on-year increase, hinting at a partial recovery from previous downturns.

Market Movements Across the Region

In mainland China, the Shenzhen Composite fell by 0.88%, while the Shanghai Composite managed a 0.39% gain. Conversely, Hong Kong's Hang Seng index enjoyed a 0.92% rise. Japan's Nikkei 225, however, wasn't as fortunate, declining by 0.95% due to pressures on chip-related stocks. Markets in Australia and South Korea remained closed for public holidays, offering a brief respite from the day's trading activities.

Currency Markets Update

In the realm of currency, the dollar saw a 0.21% increase against the Japanese yen, trading at ¥156.2355, reflecting the ongoing fluctuations in the financial markets.