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 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.
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.
Oil prices rose in the morning hours from Asia, after European Union leaders agreed to block most Russian oil for an invasion of Ukraine by the end of 2022.
European Commission President Ursula von der Leyen said in a tweet on Twitter that the agreement will effectively reduce about 90% of oil imports from Russia into the European Union by the end of the year.
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.
“Devoted student. Bacon advocate. Beer scholar. Troublemaker. Falls down a lot. Typical coffee enthusiast.”