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Asia-Pacific stocks edge higher; private survey on Chinese factory activity in May ahead

China economic data watch

On the economic data front, the Caixin/Markit manufacturing Purchasing Managers’ Index (PMI) for May is expected to be released at 9:45 a.m. HK/SIN on Tuesday.

The official manufacturing PMI for May, released Monday, came in 51.0 — slightly lower than analyst expectations for a reading of 51.1 in a Reuters poll.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 89.788 — falling below the 90 level again.

The Japanese yen traded at 109.48 per dollar, stronger than levels above 110 against the greenback seen late last week. The Australian dollar changed hands at $0.7743, still below levels above $0.776 seen last week.

Oil prices were mixed in the morning of Asia trading hours, with international benchmark Brent crude futures little changed at $69.31 per barrel. U.S. crude futures advanced 0.87% to $66.90 per barrel.

Here’s a look at what’s on tap:

  • Australia: Reserve Bank of Australia interest rate decision at 12:30 p.m. HK/SIN
  • China: Caixin/Markit manufacturing Purchasing Managers’ Index at 9:45 a.m. HK/SIN

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