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Asian shares mixed as China factory data disappoints

FILE - This July 16, 2013, file photo, shows a Wall Street street sign outside the New York Stock Exchange. Stocks are opening slightly higher on Wall Street, Monday, May 1, 2017, led by gains in technology companies and banks. (AP Photo/Mark Lennihan, File)
FILE - This July 16, 2013, file photo, shows a Wall Street street sign outside the New York Stock Exchange. Stocks are opening slightly higher on Wall Street, Monday, May 1, 2017, led by gains in technology companies and banks. (AP Photo/Mark Lennihan, File) FILE - This July 16, 2013, file photo, shows a Wall Street street sign outside the New York Stock Exchange. Stocks are opening slightly higher on Wall Street, Monday, May 1, 2017, led by gains in technology companies and banks. (AP Photo/Mark Lennihan, File)

By Associated Press 3 min read

TOKYO (AP) – Shares were mixed in Asia after an upbeat day on Wall Street. Weaker than expected China manufacturing data appeared to have a muted impact.

KEEPING SCORE: Japan’s Nikkei 225 index advanced 0.6 percent to 19,431.66, helped by a weaker yen, which boosts profits for manufacturers. South Korea’s Kospi jumped 0.9 percent to 2,224.81. The Hang Seng in Hong Kong edged a fraction of 0.1 percent lower to 24,606.76 and the Shanghai Composite index gave up 0.3 percent to 3,144.62. Australia’s S&P ASX 200 fell 0.3 percent to 5,940.60, while shares were higher in Taiwan and Southeast Asia.

CHINA MANUFACTURING: The Caixin China purchasing managers survey found Chinese factories slowed production and slashed jobs in April as new orders weakened. The index fell to 50.3 from 51.2 in March, on a scale of 0-100 with readings above 50 indicating expansion. An official survey released earlier showed similar trends. “The latest PMI readings support our view that growth in China peaked at the turn of the year and is now decelerating,” Julian Evans-Pritchard of Capital Economics said in a commentary.

WALL STREET: U.S. stocks rose Monday as big technology companies like Apple continued to rally. Investors bought stocks and sold bonds and gold after Congress agreed to a deal that will keep the government operating for the rest of the fiscal year, averting a shutdown, so they bought riskier stocks and sold government bonds, gold, and high-dividend stocks. The VIX, an index that is seen as a measure of the market’s anxiety level, fell to its lowest level since February 2007. The Standard & Poor’s 500 index picked up 0.2 percent to 2,388.33. The Dow Jones industrial average lost 0.1 percent to 20,913.46 as Boeing and IBM lagged. Gains for tech companies pushed the Nasdaq composite up 0.7 percent to 6,091.60, another record high.

U.S. GOVERNMENT SPENDING: The House of Representatives is due to vote Wednesday on a spending bill that would fund most government operations through September. The bill does not include the border wall President Donald Trump has proposed, and rejects his proposed cuts to popular domestic programs.