Asian Markets Respond to Positive PMI Data

Stock exchanges across the Asia-Pacific region experienced mostly positive trading sessions on Monday, buoyed by encouraging Purchasing Managers' Index (PMI) readings indicating a boost in manufacturing activity. This uptick comes at a time when trade tensions between the United States and China are escalating, with reports suggesting China is preparing retaliatory tariffs against U.S. agricultural products.

Market Movements Across the Region

In mainland China, the Shanghai Composite saw a slight decline of 0.21% by 7:20 am CET, while the Shenzhen Composite edged up by 0.28%. Hong Kong's Hang Seng Index remained stable, and South Korea's Kospi Composite was closed for a holiday. Meanwhile, Australia's S&P/ASX 200 climbed 0.90%, and Japan's Nikkei 225 jumped 1.60% by the market's close.

Currency Exchange Rates

On the currency front, the U.S. dollar was trading 0.14% lower against the Japanese yen at 7:22 am CET, with an exchange rate of 150.29600 yen to the dollar.