AFP, Hong Kong :
Asian markets were mixed Monday following losses on Wall Street and after a survey indicated manufacturing activity in China was contracting at a faster rate than initial results suggested.
Traders are also keeping a nervous eye on the crisis in Ukraine, where unrest has spread from the east to the south while Russia has warned the country’s leaders to halt a military operation against pro- Kremlin rebels.
Sydney ended flat, edging up 4.14 points to 5,462.2 while in the afternoon Hong Kong was 1.45 percent lower and Shanghai gave up 0.36 percent.
Tokyo, Seoul and Bangkok were closed for public holidays.
Banking giant HSBC said Monday its purchasing managers index (PMI) for China last month came in at 48.1, a tad up from the 48.0 in March but weaker than the 48.3 reported in its preliminary report on April 23.
The result adds to fears for the world’s number two economy and key driver of global growth following a slew of weak data recently, including on trade and investment.
A figure below 50 indicates contraction while anything above points to growth. Last week the government’s official PMI reading came in at 50.4 for April from 50.3 in March.
Monday’s figures showed domestic demand deteriorated at a slower pace but remained sluggish, while the new export orders and employment sub-indices both contracted, Qu Hongbin, a Hong Kong- based economist with HSBC, said in the statement.
“These indicate that the manufacturing sector, and the broader economy as a whole, continues to lose momentum,” he said.
Regional traders were given a negative lead from New York, where events in Eastern Europe overshadowed a better-than-expected jobs report.
Russia warned Ukraine of “catastrophic consequences” unless it ended a military operation against pro-Moscow secessionists in several towns in the east.
