SINGAPORE — Asia-Pacific markets were mixed in Wednesday morning trade as investors reacted to the release of China's manufacturing activity data for September.
Mainland Chinese markets were higher, with the Shanghai composite up 0.3% while the Shenzhen component added 0.563%. Hong Kong's Hang Seng index advanced 0.89%.
Japan markets were lower, with the Nikkei 225 shedding 0.22% while the Topix index declined 0.47%.
Australia's S&P/ASX 200 also dropped 1.09%. Overall, the MSCI Asia ex-Japan index was 0.35% higher.
Markets in South Korea are closed Wednesday for a holiday.
Chinese economic data watch
On the economic data front, China's official manufacturing Purchasing Managers' Index (PMI) for September came in at 51.5 on Wednesday as compared to 51.0 in August, according to the country's National Bureau of Statistics.
Analysts in a Reuters poll had expected the official manufacturing PMI to come in at 51.2 in September. PMI readings above 50 indicate expansion from the previous month, while those below that figure signal contraction.
Meanwhile, a private manufacturing survey also showed manufacturing activity expanding in September, with the Caixin/Markit PMI coming in at 53.0. Analysts polled by Reuters expected the Caixin/Markit PMI for September to come in at 53.1 — the same level as August.
The private survey features a bigger mix of small- and medium-sized firms. In comparison, the official PMI survey typically polls a large proportion of big businesses and state-owned companies. Chinese economic data has been watched by investors for further clues on the Chinese economy's recovery from the coronavirus pandemic.
Japan telco shares mixed
Shares of Japanese telecommunications firms were closely watched following a recent shakeup in the sector, with Nippon Telegraph and Telephone Corporation (NTT) set to take over its telecommunications unit, NTT Docomo.
Shares of NTT fell 2.4% in Wednesday morning trade while NTT Docomo surged 20.82%. Meanwhile, shares of NTT Docomo's mobile peers fell — SoftBank Corp dropped 1.76% and KDDI declined by 0.32%.
The move by NTT comes as new Japanese Prime Minister Yoshihide Suga calls on wireless carriers to reduce prices, according to Reuters, with the hope that the savings generated will stimulate consumer spending elsewhere in the economy.
Meanwhile, the first U.S. presidential debate between incumbent President Donald Trump and Democratic nominee Joe Biden, could also impact investor sentiment.
In coronavirus developments, Regeneron said its REGN-COV2 drug reduced viral levels and improved symptoms in non-hospitalized coronavirus patients.
Overnight on Wall Street, the major averages snapped a three-day winning streak. The Dow Jones Industrial Average closed 131.40 points lower, or 0.5%, at 27,452.66. The S&P 500 also shed 0.5% to end its trading day at 3,335.47 while the Nasdaq Composite slid 0.3% to close at 11,085.25.
Currencies
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.829 following an earlier high of 93.921.
The Japanese yen traded at 105.67 per dollar, still off levels below 105.5 against the greenback seen earlier this week. The Australian dollar changed hands at $0.7134 after rising from levels below $0.707 this week.
— CNBC's Fred Imbert and Huileng Tan contributed to this report.
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September 30, 2020 at 06:53AM
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Asia-Pacific stocks mixed as investors react to China's manufacturing activity data, U.S. presidential debate - CNBC
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