Asia-Pacific markets fell on Tuesday as investors await regional private surveys for factory activity.
In Australia, the S&P/ASX 200 fell 0.28% as investors digest the nation’s Judo Bank composite purchasing managers’ index, which climbed to 49.2, below the 50-mark that separates growth and contraction.
The PMI index encompasses services and manufacturing, and is seen as a reliable gauge of economic health.
The Reserve Bank of Australia released minutes from its February policy meeting, which reiterated comments from governor Philip Lowe that more interest rate hikes will be needed.
In Japan, the Nikkei 225 fell fractionally and the Topix was marginally higher, as Japan’s PMI index came in lower at 47.4. down from 48.9 in January.
South Korea’s Kospi also rose 0.11% while the Kosdaq was 0.31% higher.
In Hong Kong, the Hang Seng index was 0.26% lower, and the Hang Seng Tech index fell 1.1%. In mainland China, the Shenzhen Component rose 0.23%, and the Shanghai Composite also was up 0.41% .
While U.S. markets were closed due to Presidents’ day holiday, U.S futures fell on Monday night following a week during which higher interest rates kept investor sentiment in check.
Dow Jones Industrial Average futures dipped 88 points, or 0.3%. S&P 500 futures dipped 0.3%, and Nasdaq-100 futures pulled back by 0.2%.
