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Asian stocks opened lower after China is manufacturing data

2019-05-31 01:54 am | Resource: News | No Views : 69

 Asian stocks opened lower after China's manufacturing data

Shares in Asia fell in morning trade on Friday as China's economic data fell short of expectations. After the release of a number of data topped by industrial production in China and Japanese unemployment rates

Japan's unemployment rate was 2.4% in April

Japan's unemployment rate fell to 2.4% in April from 2.5% in March of 2019, according to a report from the Statistics Office of the Ministry of Home Affairs and Communications.

The number of workers in April rose by 0.6% over the previous year, while the number of unemployed decreased by 2.2% from the previous year. The ratio of jobs to applications was 1.63 as the previous month.

Chinese manufacturing decline in May

China's PMI manufacturing index in May was at 49.4, down 0.7 points from April, according to a report by the Chinese Federation of Logistics and Procurement (CFLP). The statement pointed out that the downward pressure on the economy has increased, as new orders and export orders indicators fell significantly, reflecting the lack of demand in the market.

Meanwhile, the non-manufacturing PMI for the month of April did not change, reaching 54.3. The index remained above 54 points for five consecutive months, maintaining steady and rapid growth, the report said. However, new orders continued to decline, including export orders.

Asian stocks open
  • The Nikkei 225 average fell 1.08% in morning trade
  • The Topix index also fell 0.95%. Auto maker shares fell in all areas, with Nissan falling 3.27% and Toyota down 2.31%
  • In Australia, the ASX 200 index fell 0.3%.
  • South Korea's Kospi fell in morning trade, falling 0.33%. Cars also retreated, with Kia Motors falling 4.37%.

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