Asian stocks outside of Japan fell as investors awaited a report on Chinese manufacturing.
The MSCI Asia Pacific excluding Japan Index slipped 0.2 percent to 512.28 as of 8:02 a.m. in Hong Kong. The measure in April posted its biggest monthly advance since January 2012 as Chinese equities rallied on expectations policy makers will act to bolster growth in the world’s second-largest economy.
The final reading of a private gauge of Chinese manufacturing is expected to signal contraction for a second month in April, according to a Bloomberg survey of economists before the report Monday.
China’s official factory measure for April suggested that growth may be starting to stabilize after the government spurred infrastructure investment and eased monetary policy. The Purchasing Managers’ Index was at 50.1, according to a report released Friday by the statistics bureau and the China Federation of Logistics and Purchasing in Beijing. Readings above 50 signal expansion.
Source : Bloomberg