Investing.com - Asian stock markets were mixed on Monday, as upbeat Chinese manufacturing data suggested that growth is stabilizing in the region’s largest economy.
During late Asian trade, Hong Kong''s Hang Seng tumbled 1.4%, China’s Shanghai Composite shed 0.05%, Australia’s S&P/ASX 200 closed 0.62% higher, while Japan’s Nikkei 225 ended up 0.13%.
Midway through the session, data showed that China’s HSBC Flash Purchasing Managers Index, the earliest indicator of the country''s industrial activity, rose to a seven-month high of 50.8 in June from a final reading of 49.4 in May. Analysts had expected the index to rise to 49.7 this month.
Shares in mainland China and Hong Kong rose to the highest levels of the session following the release of the manufacturing data, before turning lower in afternoon trade as investors locked in gains.
Meanwhile, in Tokyo, the Nikkei briefly rose to a six-month high before paring gains as traders continued to monitor movements in the currency market.
The yen strengthened to ¥101.90 against the U.S. dollar, compared to ¥102.03 in late U.S. trade on Friday.
Elsewhere, in Australia, the ASX/200 Index rebounded from Friday’s 1% drop as gains in the mining sector boosted the benchmark index.
Fortescue Metals Group (ASX:FMG) and Rio Tinto (ASX:RIO) rallied 4% and 2.6% respectively on the back of rising copper prices.
Looking ahead, European stock market futures pointed to a mixed open. The Euro Stoxx 50 futures pointed to a loss of 0.15%, France’s CAC 40 added 0.1%, London’s FTSE 100 indicated a gain of 0.1%, while Germany''s DAX inched up 0.1%.
The euro zone is to release data on manufacturing and service sector activity, while Germany and France are to release individual reports.
Across the Atlantic, U.S. equity markets also pointed to a firm open. The Dow futures pointed to a gain of 0.15%, the S&P 500 indicated a gain of 0.15%, while the Nasdaq 100 pointed to a rise of 0.15%.
The U.S. is to release preliminary data on manufacturing activity and private sector data on existing home sales later in the session.
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