Greater China markets slip after factory contracts;  private poll data ahead

Greater China markets slip after factory contracts; private poll data ahead

SINGAPORE — Greater China stocks slid while other Asia-Pacific indices rose on Monday, as a private survey of Chinese factory activity showed growth had slowed in July.

Over the weekend, China’s official purchasing managers’ index for July came in at 49, down from 50.2 in June and lower than the expected 50.4.

Markets in mainland China declined. The Shanghai Composite fell 0.47% and the Shenzhen Component fell marginally.

China’s Caixin/Markit Manufacturing PMI for July missed expectations, coming in at 50.4 compared to 51.5 predicted in a Portal poll. In June, the value was 51.7.

PMI readings are sequential and represent monthly expansion or contraction. The 50 mark separates growth from decline.

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Hong Kong’s Hang Seng Index fell 0.72% as shares in tech giant Alibaba fell more than 4%.

On Friday, Alibaba was added to a list of companies in the US at risk of delisting under the Holding Foreign Companies Accountable Act. US-listed shares plunged 11% during the regular trading session.

HSBC will announce its interim results on Monday.

Japan’s Nikkei 225 gained 0.28% and the Topix index gained 0.49%.

In Australia, the S&P/ASX 200 rose 0.34%.

South Korea’s Kospi was up 0.24% and the Kosdaq was up 0.21%.

MSCI’s broadest index of Asia Pacific stocks outside of Japan lost 0.27%.

Currencies and Oil

The US Dollar Index, which tracks the greenback against a basket of its peers, came in at 105.667, down from last week’s levels.

The Japanese yen was trading at 132.27 per dollar, stronger than levels early last week. The Australian dollar was at $0.6983.

Oil futures slipped. US crude oil futures fell 1.27% to $97.37 a barrel, while Brent crude fell 1.06% to $102.87 a barrel.