Australian stocks rise as Asian investors await official Chinese manufacturing activity data for March – NBC 5 Dallas-Fort Worth

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  • Shares in Australia rose in morning trading.
  • China is expected to release its official Manufacturing Purchasing Managers Index for March at 9:30 a.m. HK/SIN on Thursday.

SINGAPORE — Australian stocks rose on Thursday morning as investors in Asia-Pacific await the release of official data on Chinese manufacturing activity for March.

the S&P/ASX 200 gained about 0.5% as shares of major Australian miners surged. BHP increased by 3.82% while Fortescue Metals Group increased by 3.03% and Rio Tinto jumped 2.63%.

Elsewhere, the Nikkei futures contract in Chicago was at 27,825 while its counterpart in Osaka was at 27,790. This compared to the Nikkei 225 last close at 28,027.25.

China is set to release its official Manufacturing Purchasing Managers Index for March at 9:30 a.m. HK/SIN. The release of the data comes after an independent investigation by China Beige Book showed that Chinese factories were hit harder in the first quarter than last year.

In the U.S. overnight, the S&P 500 fell 0.63% to 4,602.45. The Dow Jones Industrial slipped 65.38 points, or 0.19% to 35,228.81. The tech-heavy Nasdaq Composite lagged, falling 1.21% to around 14,442.28.

Currencies

the US dollar indexwhich tracks the greenback against a basket of its peers, was at 97.792 as it struggles to recover from falling from levels above 99 earlier in the week.

the japanese yen traded at 122.04 to the dollar, still stronger than the above 124 levels seen against the greenback earlier this week. the Australian dollar was at $0.7508, having largely traded in a range between $0.747 and $0.753 so far this week.

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