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
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