Asia-Pacific stocks mixed; data shows China's factory activity contracted again in May

Asia-Pacific stocks mixed; data shows China's factory activity contracted again in May

May 31, 2022 by CNBC

Key Facts

  • SINGAPORE — Shares in Asia-Pacific were mixed in Tuesday trade as investors watched for market reaction to the release of official Chinese factory activity data for May.
  • The May reading was above the 48.6 level expected from a Reuters poll but still below the 50-point mark that separates growth from contraction.
  • The worst of the "growth shock" of the Covid wave in China may be behind, but the country is still seeing "a very gradual, slow progress of the normalization," he said.
  • OIL PRICES RISE AFTER EU AGREES ON RUSSIA SANCTIONS CURRENCIES The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 101.625 — still off levels above 102 seen last week.

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